CYVN Complete Takeover of McLaren’s Automotive Business
The Abu Dhabi-based CYVN Holdings, an advanced mobility investment vehicle, on Thursday said that it has completed the acquisition of McLaren’s automotive business and a non-controlling stake in McLaren’s Racing business.
The new McLaren Group Holdings Ltd will oversee the combined business of McLaren Automotive and CYVN’s anchor investment in the British EV start-up, Forseven. The new Group will also include CYVN’s shareholding in McLaren Racing and the newly formed McLaren Licensing business, CYVN said in a disclosure with Abu Dhabi Securities Exchange (ADX).
McLaren Automotive will benefit from CYVN’s strategic investment in Chinese EV manufacturer NIO, to deliver access to visionary technologies and electrification, in addition to three years of stealth mode development from the team at Forseven.
This development process has leveraged Gordon Murray Technologies, following its strategic acquisition by CYVN Holdings in 2023 to accelerate CYVN’s engineering and light-weighting expertise.
As a clear demonstration of the Group’s intent to move at pace, McLaren Automotive’s portfolio will be expanded into new product categories, details of which will be announced later this year. Nick Collins, currently CEO of Forseven, will assume the role of Group Chief Executive.
Under its Chairman, Jassem Mohamed Bu Ataba Al Zaabi, CYVN has a clear vision and strategy to redefine the high-performance and luxury sectors, set a new benchmark for excellence, and transform McLaren into a high-performing British automotive business on the global stage.
Jassem Al Zaabi, who will also be the Chairman of McLaren Group Holdings said that he was personally committed to making this vision a reality.
He said: “It isn’t just about investing, it is about shaping the future of McLaren as a brand, as a business and its place on the global automotive map. We want to – and we will – push boundaries and deliver ground breaking innovations that drive real progress in the sector.”
Al Zaabi said that this is the start of an exciting new era for McLaren as a car brand and an automotive business. With active ownership through CYVN Holdings and their portfolio of complementary businesses and strategic investments, McLaren will have access to world-class engineering and design excellence, leading-edge technology, and experienced leadership in advanced mobility. These resources will fuel McLaren’s next chapter, enabling the brand to stay at the forefront of innovation.
“We are also equally committed to driving the long-term success of McLaren Racing. Our investment reflects our strong conviction in the Racing business’ potential, and we look forward to supporting the team in building on their successes, winning more podiums, and inspiring fans worldwide”, Al Zaabi added.
Nick Collins said that with the support and ambitions of our shareholder, they have a unique opportunity to sustainably grow McLaren into a world-beating company. The combination of what McLaren has achieved, and what Forseven has built in a short time is incredibly complementary.
Turnaround Plan
Running concurrently with the integration and structural alignment process over the next six months, a turnaround plan for the existing McLaren Automotive operation is required and will commence immediately.
Collins explained: “We have a clear strategy to achieve our vision, and we will move at an incredible pace to do so. We need to optimise operations, deliver efficiencies and reshape the new integrated organisation, so that we can grow our portfolio of cars, enhance customer experience and continue strengthening our global supplier and dealer relationships.”
