Recently, we learned from the media that Mumtalakat Holding Company, a subsidiary fully owned by the Bahrain Sovereign Wealth Fund, has acquired full ownership of McLaren Automotive, increasing its stake from 60% to 100%. The fund is a wholly-owned subsidiary of the Bahraini government and primarily invests in non-oil sectors such as finance, industry, real estate, tourism, among others.
McLaren Group announced its financial report at the end of 2022, revealing a loss of £349 million for the year, mainly attributed to disruptions in the supply chain and a decrease in market demand due to the pandemic. To alleviate financial pressure, McLaren Group sold its headquarters, Formula One racing factory, and some historic vehicles. The increase in ownership stake is expected to provide McLaren with additional financial support from Mumtalakat Holding Company.
Earlier reports suggested that McLaren might launch a new supercar by the end of 2024. The new car is rumored to feature a V8 engine paired with a hybrid system, potentially delivering over 1000 horsepower. Notably, the new car's door-opening mechanism may change, possibly adopting a completely new gullwing door design.
