McLaren Automotive is being sold by its current owner, the Bahrain sovereign wealth fund Mumtalakat, to an investment group based in Abu Dhabi, with the terms of the deal not being disclosed. CYVN Holdings said in a statement that the investment is “transformative” and will most benefit the group’s electric car projects. CYVN will also get a non-controlling stake in the McLaren Group, which includes the car company’s race division. The part of McLaren that makes road cars will soon have a new owner. Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain, and CYVN Holdings have agreed in principle to buy full ownership of McLaren Automotive. This comes just seven months after Mumtalakat bought a controlling stake in the British supercar maker. The new owner is an investment business based in Abu Dhabi called CYVN Holdings. It also owns most of the shares in Nio, a company that makes electric cars. About a year ago, it bought the Gordon Murray Group, which is making it even stronger in the car industry. Along with the news, a simple purpose statement explaining why it now owns McLaren was made public. “CYVN Holdings’s game-changing investment would give them access to more money, top-notch engineering knowledge, and ground-breaking technology, especially in the market for electric vehicles.” Building on CYVN Holdings’ past strategic investments in Nio Inc., Forseven, and Gordon Murray Technologies, McLaren would also benefit from the team’s wide range of experience across different industries. Nio has extensive experience with high-performance electric vehicle technology, and it makes sense that McLaren, which has been discussing EVs for the future, would benefit from it. The company tested a concept electric car around the Ring in 2017. As part of this deal, Mumtalakat would give CYVN Holdings a non-controlling stake in the McLaren Group, which includes the racing division. The amount that CYVN Holdings paid to buy full control of McLaren is not known because the financials of the deal have yet to be made public. It’s been less than a month since McLaren showed off their newest hypercar, the W1.
