– Abu Dhabi-backed CYVN Holdings has signed a non-binding agreement with Bahrain’s Mumtalakat Holding to acquire a stake in British carmaker McLaren Group, with the possibility of taking control of its automotive business.

-The partnership aims to infuse McLaren with additional capital and advanced engineering expertise, particularly in electric vehicle (EV) technology, to enhance its high-performance vehicle lineup and expand its global retail network.

– By leveraging Mumtalakat’s recent full ownership of McLaren and CYVN Holdings’ previous USD 2.2 billion investment in Chinese EV maker Nio, the collaboration seeks to bolster McLaren’s position in the competitive automotive market and accelerate its development of electric vehicles.

Abu Dhabi-backed CYVN Holdings has entered a non-binding agreement with Bahrain’s sovereign wealth fund, Mumtalakat Holding, to acquire a stake in British carmaker McLaren Group, with the possibility of gaining ownership of its automotive division.

This strategic partnership aims to enhance McLaren’s capabilities through additional capital, advanced engineering expertise, and cutting-edge technology, particularly in electric vehicles (EVs).

Strengthening McLaren’s High-Performance Vehicle Lineup

The agreement seeks to expand McLaren’s lineup of high-performance vehicles, backed by a robust retail network of over 110 locations across 30 global regions. This collaboration is set to position McLaren for growth in the competitive automotive market.

Recent Investments and Future Prospect

In December 2023, CYVN Holdings made headlines by signing a USD 2.2 billion investment agreement with Chinese EV maker Nio. Additionally, Mumtalakat acquired full ownership of McLaren Group in March and subsequently invested in Italian Racing Force, the parent company of Racing Force Group, which specializes in motorsport safety products.

Focus on Electric Vehicles and Technological Innovation

This partnership underscores a growing commitment to innovation within the automotive sector, particularly in the rapidly evolving electric vehicle market. With shared resources and expertise, CYVN Holdings and Mumtalakat aim to position McLaren as a leader in the future of high-performance electric vehicles.