British sports car manufacturer McLaren has seen its ownership change once again in the past seven months, according to Motor1. Now Abu Dhabi-based CYVN Holdings has signed a non-binding agreement to buy all of McLaren Automotive’s shares, after Bahrain’s Public Wealth Fund (Mumtalakat) took full ownership of the company in March.
The main purpose of this contract is to improve performance and develop advanced technologies in McLaren. Due to its expertise and experience in the automotive industry, CYVN Holding can help McLaren launch more innovative products, especially in the field of electric vehicles, while increasing its financial efficiency and productivity.
Needless to say, this agreement is in line with Mumtalakat’s strategy to improve and grow the Bahrain National Capital Fund and achieve long-term financial returns. These changes can help McLaren to find a more prominent position in the global luxury and sports car market and increase its competitiveness.
One of the important points in this deal is the increasing focus on electric vehicles. McLaren and CYVN Holding emphasize mutual cooperation in the field of electric vehicle development. This shows that McLaren, like many other automakers, believes in an electric future for the automotive industry.
Michael Leiters, The former CEO of Ferrari has been working as the CEO of McLaren Automotive since 2022 and has made important changes in this company in a short period of time. Criticizing the company’s previous products, he emphasizes the importance of quality and innovation, and the company has since introduced new sports cars such as the Artura hybrid, the 750S supercar, and the W1 hypercar to replace the P1.
With these conditions, even during the time of Leiters CEO, McLaren could not achieve its usual quality standards in the production of some of its new cars, and this issue, in addition to causing dissatisfaction among the wealthy customers of this British company, caused the production of the Artura car to be completely canceled in 2023. to stop
In general, McLaren is expected to offer more attractive products to its customers in the near future, focusing on electric vehicles and using advanced technologies. There are rumors about the production of a sports car with a front engine and even electric SUVs of this company, although they have not been officially confirmed yet.