No menu items!

Become a member

Get the best offers and updates relating to Liberty Case News.

― Advertisement ―

spot_img

Tesla model plans and production forecast to 2028

The latest vehicle manufacturer strategy report by Automotive World examines Tesla’s future model plans and forecasts its production output for the period to...
HomeTechnology & InnovationAbu Dhabi's CYVN Holdings to Acquire McLaren Automotive

Abu Dhabi’s CYVN Holdings to Acquire McLaren Automotive


By DCB Editorial, October 30, 2024

Abu Dhabi-based investment firm CYVN Holdings has signed a non-binding agreement to acquire 100% of McLaren Automotive from Bahrain’s sovereign wealth fund, Mumtalakat Holding. This strategic acquisition will provide McLaren Automotive with a significant capital infusion, cutting-edge engineering expertise, and access to advanced electric vehicle (EV) technology.

Additionally, CYVN Holdings will gain a non-controlling stake in the McLaren Group, the parent company of McLaren Automotive. Founded by racing legend Bruce McLaren in 1963, McLaren is a globally recognized British sports car brand with a storied racing heritage.

Mumtalakat, McLaren’s majority shareholder, has been actively exploring new investment opportunities to strengthen the company’s growth potential. The partnership with CYVN Holdings aligns with these objectives and will enable McLaren to accelerate its electric vehicle initiatives and broaden its global footprint.

CYVN Holdings has already demonstrated its commitment to sustainable mobility, evidenced by a $2.2 billion investment in Chinese electric vehicle maker NIO last year. The company’s broader vision is to develop an integrated smart mobility platform through partnerships with leading automotive industry players worldwide.

McLaren Hq - 2024McLaren Hq - 2024



Source link