The iconic British supercar maker McLaren has a new owner. The Abu Dhabi Investment Authority, through its arm CYVN Holdings, has bought the company for an estimated £1.2 billion. This marks a major shift for McLaren, as it moves from Bahrain’s Mumtalakat to Emirati control. Mumtalakat has been part of McLaren’s journey since 2007, gradually increasing its stake and fully taking over just this past April. Now, the Abu Dhabi sovereign wealth fund is stepping in with plans to push McLaren further into advanced mobility and high-tech innovation. Both sides have been in talks since October, "exploring a potential partnership" with CYVN looking to "build on McLaren’s highly successful track record in elite motorsport and grow one of the world’s most prestigious range of high-performance vehicles." While CYVN will take over the car business and hold a minority stake in McLaren Racing, Mumtalakat is keeping control of the motorsport side—a big part of what makes McLaren iconic. Financial Troubles and New DirectionsMcLaren hasn’t had it easy in recent years. In just a year, its losses skyrocketed from £349 million to a record £924 million. It was clear something had to give. Mumtalakat owned a major stake in McLaren since 2007, kept the company afloat with repeated cash injections. But it wasn’t enough. After years of financial strain, the fund turned to CYVN Holdings for a way forward. The challenges go back even further. During the pandemic, McLaren’s finances took a huge hit. To survive, the company sold and leased back its Woking headquarters and even parted with some of its classic car collection. Despite raising £1 billion in 2021, the financial burden only grew. By 2022, Mumtalakat bought out Saudi Arabia’s stake in the company, hoping to stabilize things. It worked, but only temporarily. McLaren is gearing up for its biggest challenge yet—building its first fully electric supercar. It’s an ambitious goal for a company still grappling with rising costs and supply chain headaches. Right now, the hybrid Artura and the GT, McLaren’s debut grand tourer, are its key players, but they won’t be enough to secure the company’s future. McLaren knows it needs serious investment to stay in the race and keep its reputation as a pioneer in high-performance cars. CYVN chairman Jassem Mohammed Bu Ataba Al Zaabi called the deal a chance to combine McLaren’s rich history with CYVN’s tech expertise to “set a new benchmark for excellence.” Mumtalakat chairman Shaikh Salman bin Khalifa Al Khalifa added, “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.” Source: McLaren
