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Abu Dhabi plans to buy stake in British carmaker McLaren

By Pramod Kumar
Mumtalakat, Bahrain's sovereign wealth fund, took full ownership of McLaren Group in March McLaren
Mumtalakat, Bahrain's sovereign wealth fund, took full ownership of McLaren Group in March

Abu Dhabi-backed CYVN Holdings has entered a non-binding agreement with Mumtalakat Holding, Bahrain’s sovereign wealth fund, to buy a stake in British carmaker McLaren Group, with the potential to take ownership of its automotive business.

The partnership aims to bolster McLaren with additional capital, advanced engineering expertise and technology, particularly in electric vehicles (EVs), the companies said in a joint statement.

The agreement intends to expand the sports carmaker’s lineup of high-performance vehicles, supported by a retail network of more than 110 locations across 30 global regions.

In December 2023, CYVN Holdings signed an agreement to invest $2.2 billion in Chinese EV maker Nio.

Mumtalakat took full ownership of McLaren Group in March. Three months later, the sovereign wealth fund invested in Italian Racing Force, the parent company of Racing Force Group, makers of motorsport safety products.

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