McLaren gets a new owner with big plans for the future
Abu Dhabi-based CYVN Holdings aims to “redefine high-performance mobility”
Supercar manufacturer and race outfit McLaren’s financial worries are well documented, but its new owner, Abu Dhabi-based CYVN Holdings, could well be the answer to the Woking firm’s woes.
A potential deal between the Abu Dhabi government-owned investor and the manufacturer was first announced in October 2024, and the ink dried on the agreement on December 8th. However, while the deal has been signed, it will be completed subject to customary closing conditions and obtaining regulatory approvals.
Once the deal goes through, CYVN Holdings and McLaren believe the new partnership will “empower McLaren to reach its full potential via access to engineering and design capabilities, leading-edge technology, and experienced leadership to propel McLaren’s trajectory.“
His Excellency Jassem Mohammed Bu Ataba Al Zaabi, Chairman of CYVN Holdings, said: “This acquisition marks a defining moment in CYVN’s vision to build a leading, globally connected mobility platform and underscores Abu Dhabi’s growing role as a global centre of excellence for innovation in advanced mobility. By combining McLaren’s iconic heritage and expertise with CYVN’s advanced engineering and technology capabilities, we aim to redefine high-performance mobility and set a new benchmark for excellence.”
His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy and Chairman of the Board of Directors of Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain, stated: “This agreement marks a pivotal moment in Mumtalakat's strategic vision for the transformation of McLaren Group, which has included its recent reorganization that opened doors for new strategic avenues and partnership opportunities. We are confident in CYVN's ability to build on McLaren’s strong legacy and unlock its full potential with Mumtalakat continuing to play a strategic role in McLaren having the ability to benefit from future growth. With CYVN's advanced engineering capabilities and forward-looking vision, we believe they are the perfect partner to drive the next phase of McLaren's growth and evolution.”
The deal is set to smooth the road for McLaren, whose 750S supercar was highly commended in the 2024 Auto Express Awards Performance Car Of The Year category, as it readies its Woking HQ to produce the W1 hypercar.
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