McLaren's supercar business has been sold in a deal that likely paves the way for the launch of the brand's first EV.
The news was confirmed on Tuesday in a joint statement by CYVN and McLaren Group owner Bahrain Mumtalakat Holding Company, the sovereign wealth fund of fellow Gulf country Bahrain.
CYVN will also purchase a non-controlling stake in McLaren Group as part of the deal. Terms of the deal weren't announced.. Bahrain Mumtalakat said at the time that the move would make it easier to attract new investment by simplifying the ownership structure of McLaren Group, which also oversees the McLaren Formula 1 team.McLaren Group has been struggling financially since the pandemic.
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