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Now we know. British supercar manufacturer McLaren has been acquired by CYVN Holdings, a subsidiary of Abu Dhabi’s trillion-dollar sovereign wealth fund. The acquisition marks a significant shift for McLaren, which has been striving to develop its first electric supercar and adapt to the evolving automotive landscape. Previously owned by Bahrain’s state-backed Mumtalakat Holding Company, McLaren’s automotive business will now be controlled by CYVN. The agreement comes on the heels of a challenging year for McLaren, which reported record losses of £924 million in 2023, nearly three times the £349 million loss recorded in 2022. As part of the deal, Mumtalakat will retain control of McLaren’s racing division, while CYVN will hold a minority stake in the overall business. The transaction reflects the growing interest of Gulf investors in high-performance automotive brands and McLaren's ambitions to secure a foothold in the electric vehicle market. Credits: CTTO, megazettes
