According to media reports, Abu Dhabi-based investment firm CYVN Holdings has finalized a deal to acquire the supercar division of McLaren from Bahrain's sovereign wealth fund, Mumtalakat Holding.
The Abu Dhabi government stated that the transaction also gives CYVN a minority stake in McLaren's motorsport business. The agreement was signed on November 9, according to the announcement. The acquisition, CYVN noted, will enable the company to "redefine high-performance mobility." However, CYVN has not disclosed the scale of its investment in McLaren.
In a statement, CYVN emphasized that the deal will provide McLaren Automotive with additional funding, advanced engineering expertise, and technology, particularly in the area of electric vehicles (EVs).
Founded in 1963 by racing driver Bruce McLaren, McLaren is one of the UK's most iconic supercar brands. The company has struggled to return to profitability since the COVID-19 pandemic and has been seeking new investment to develop electric drivetrains and expand sales by entering the SUV market.
Previously, McLaren had to repeatedly turn to investors for financial support and sold part of its classic car collection to Mumtalakat in 2022. Earlier this year, Mumtalakat restructured McLaren's equity to simplify the investment process and has since been looking to attract additional investors for the brand.
CYVN is expanding its investments in the automotive sector. Last year, the company invested $2.2 billion in Chinese EV maker NIO, acquiring a 20% stake in the company through the deal.
CYVN has also acquired the electric vehicle division of specialty carmaker Gordon Murray Design, as well as Forseven, a British EV startup led by former Jaguar Land Rover chief engineer Nick Collins.
