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McLaren Group is now fully controlled by Bahrain’s sovereign wealth fund, after the UK company’s complicated ownership structure was reorganised. No new funding for McLaren has been announced by long-term strategic investor, Bahrain Mumtalakat Holding Company (Mumtalakat). However, the move to full ownership paves the way for new technical partnerships, allowing McLaren’s sports car division to invest in electric powertrains.
“The agreement will allow us to focus on delivering our long-term business plan, including investment in new products and technologies, while continuing to explore potential technical partnerships with industrial partners,” Paul Walsh, executive chairman of the McLaren Group, said on Friday. in a statement. According to reports, McLaren is in discussions with a number of potential partners to share EV technology. A deal, which could include a company taking an equity stake in McLaren, is expected in the summer. Chinese automakers are among those who have been approached, Bloomberg reported last February.
McLaren is expected to use its planned SUV to switch to electric drive units. Its launch is scheduled for 2028, but is contingent on the company returning to profitability, at least as McLaren Automotive CEO Michael Leiters said last year. Also according to Liters, McLaren’s short-term focus is on revenue growth with the Artura and 750S sports models, as well as lower-volume specials such as the Solus V 10-powered single-seater hypercar. Mc Laren Automotive lost 148 million pounds ($186 million) in the quarter ended September 30, 2023 with revenue decreasing 18% year-on-year.