CYVN Holdings LLC, an investment firm majorly owned by the Abu Dhabi government, has announced a non-binding agreement to acquire the entire automotive business of McLaren from Bahrain's sovereign wealth fund, Mumtalakat. While the exact details of the transaction remain undisclosed, CYVN will also gain a non-controlling stake in McLaren Group.
McLaren Group is renowned for its British supercar manufacturing and its Formula One racing team, McLaren Racing. The acquisition aligns with CYVN's strategic emphasis on smart mobility, supported by its significant shareholder, the Abu Dhabi Investment Authority (ADIA).
CYVN is recognized among Chinese investors for its stake in the Chinese electric vehicle maker NIO (NIO, Financial). Last year, CYVN made two strategic investments in NIO totaling approximately $3.3 billion, making it the largest shareholder after acquiring a 20.1% stake.
The investment from CYVN Holdings is set to bolster McLaren with additional capital, advanced engineering expertise, and cutting-edge technology, particularly in the electric vehicle sector. McLaren will also benefit from CYVN's extensive cross-industry experience, which includes strategic investments in companies like NIO, Forseven, and Gordon Murray Technologies.
This collaboration will leverage McLaren's excellence in elite motorsports to expand its prestigious high-performance car lineup, supported by a global network of over 110 dealerships across 30 regions.
