McLaren Automotive

History

2024: CYVN Holdings bought McLaren

Abu Dhabi-based CYVN Holdings bought sports car maker McLaren Automotive. This deal became known at the end of October 2024.

As part of the agreement reached, CYVN Holdings will also acquire a non-controlling stake in the larger McLaren Group, which also includes the racing division. The two companies will "explore a potential partnership," focusing on electric vehicles.

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McLaren

This transformative investment from CYVN Holdings will provide access to additional capital, advanced engineering expertise and innovative technology, particularly in the field of electric vehicles, the press release said.[1]

2022: Audi buys stake in McLaren for €650m

In early April 2022, it became known about the sale of a stake in the British McLaren to Audi for 650 million euros, which is 200 million euros more than the price initially offered by the German automaker.

According to the report, Audi will take a stake in McLaren's Formula 1 division, as well as consider investing in the sports car manufacturer itself at a later stage.

Audi buys stake in sports car manufacturer for 650 million euros

The German automaker's interest in McLaren first attracted attention at the end of 2021, and the company previously put forward the idea of ​ ​ acquiring McLaren as a way to gain access to the Formula 1 business, but McLaren then considered the offer too low.

McLaren also continues to negotiate with BMW and signed a memorandum of understanding with the automaker on March 24, 2022 regarding the joint development of architecture for electric sports cars. The publication added that the agreement is not binding and can be canceled as a result of a deal with Audi.

Volkswagen will probably also give a green Porsche signal to participate in Formula 1. The company plans to collaborate its Porsche brand with the Formula 1 team. Red Bull It is claimed that Volkswagen's final decision to enter Formula One will depend on whether the auto racing car follows sport its plans to switch to synthetic fuel by 2026, as well as McLaren's progress in electrifying its cars.

Earlier in 2022, it became known about the serious financial problems of McLaren, whose revenues fell sharply due to falling sales and the cancellation of racing competitions amid the COVID-19 coronavirus pandemic. The company was forced to sell its headquarters in Woking, exiting 170m pounds - 30m less than expected.^[2]

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