CYVN Holdings, a major shareholder in Nio (NYSE: NIO) and an Abu Dhabi government fund, has entered into a non-binding agreement to acquire McLaren’s automotive business from Bahrain’s sovereign wealth fund Mumtalakat. This move marks a significant expansion for CYVN in the automotive industry.
The potential partnership between CYVN Holdings and McLaren aims to accelerate the next chapter of McLaren’s growth. As part of the agreement, CYVN Holdings will acquire full ownership of McLaren’s automotive business and a non-controlling stake in McLaren Group.
This investment by CYVN will provide McLaren with access to additional capital, advanced engineering expertise, and pioneering technology, particularly in the field of electric vehicles (EVs). The partnership will also leverage CYVN Holdings’ cross-industry experience, including strategic investments in Nio Inc, Forseven, and Gordon Murray Technologies.
McLaren, a renowned British sports car brand founded in 1963 by racing driver Bruce McLaren, has established itself as a leader in elite motorsports and high-performance cars. The partnership with CYVN Holdings will further enhance McLaren’s global presence, with a network of over 110 retailers in 30 regions.
CYVN Holdings, as an Abu Dhabi government-owned growth equity investor, focuses on supporting innovators and expanding businesses in the mobility sector. The investor has gained recognition in the Chinese automotive industry through its significant investments in Nio, becoming the largest shareholder in the Chinese EV maker.
In addition to its investments in Nio, CYVN recently formed a partnership with Nio to enter the Middle East and North Africa (MENA) market. This collaboration further highlights CYVN’s commitment to expanding its presence in the global automotive industry.
Mumtalakat, Bahrain’s sovereign wealth fund, has been an investor in McLaren since 2007 when it acquired a 30 percent stake in the company. In April this year, Mumtalakat fully acquired McLaren Group, which includes the British supercar maker and Formula One team McLaren Racing.
Overall, the agreement between CYVN Holdings and McLaren represents a significant milestone in the automotive industry, bringing together two leading players to drive innovation and growth in the sector. The partnership is poised to create new opportunities for both companies and strengthen their positions in the competitive automotive market.
