McLaren is set to have a new owner: CYVN Holdings, a company based in Abu Dhabi. This partnership is seen as a promising development for the iconic automotive brand, as CYVN will take over not only McLaren’s high-performance vehicle division but also its Formula 1 team.
The agreement between McLaren and CYVN Holdings is still in the early stages, described as non-binding as of this week. CYVN will acquire 100% of McLaren’s automotive business from Mumtalakat, which is the sovereign wealth fund of Bahrain that currently owns the company. CYVN Holdings focuses on investing in smart and advanced mobility solutions, making them a fitting partner for McLaren.
This deal is expected to infuse McLaren with new capital investment and bring in deep industry expertise, particularly in electric vehicle (EV) technology. Mumtalakat has stated that this investment will enhance McLaren’s capabilities and help maintain its strong reputation in elite motorsports.
Currently, McLaren is performing well in the 2024 Formula 1 season, with its drivers, Lando Norris and Oscar Piastri, leading in points. The company continues to produce high-performance cars, including the powerful 750S coupe and convertible, which boast 740 horsepower.
The new ownership marks a significant step for McLaren as it seeks to innovate and expand its offerings in a competitive market, particularly with the growing demand for electric vehicles. With CYVN’s resources and expertise, McLaren aims to maintain its status as a leader in both the automotive and motorsport industries.
