McLaren SOLD to the Kingdom of Bahrain. Yes, you read it right!

McLaren had been treading some troubled waters for a while, and the company’s attempts to find a shore to secure its future included putting its British HQ up for sale. However, despite all attempts to stabilize matters on the financial side, the company eventually had to settle for the only option remaining – transfer ownership to someone who could bring in the cash.

The maker of iconic supercars and hypercars is now fully owned by Mumtalakat Holding Company. For the uninitiated, that’s the sovereign wealth fund of the Kingdom of Bahrain, which in effect makes the Middle East nation the owner of the McLaren Group.

Mumtalakat Holding Company’s move to inject cash into McLaren, thereby increasing their previous stake of 60% to full ownership, has provided McLaren with the much-needed financial stability that the latter had been looking for. In return, the company’s entire divisions – McLaren Automotive, McLaren Applied, McLaren Racing Limited (Formula 1 and Indy racing teams), and McLaren Technologies – will now come under Mumtalakat Holding Company.

McLaren Starts India Ops!

The Woking-based McLaren had been going through a rough patch for the past couple of years. Issues plaguing the hybrid supercar Artura were one among the handful of concerns which led to the carmaker’s current state. Things ended up being so awful financially that the company had to resort to selling cars from its Heritage Collection to stay afloat. Thankfully, the cars were acquired by Mumtalakat Holding Company, which ensured that the priceless vehicles ended up staying within the McLaren Group itself.

The latest development in McLaren Group’s ownership has been viewed with a positive outlook by many, including the company management. Getting rid of an overly complex shareholder structure could possibly lead to easier strategic partnerships in the future, especially since McLaren is reportedly in discussions with firms like Hyundai, Polestar, BMW, and Lucid Motors on EV/hybrid tech.

Follow Vroom Head On Google News, Facebook, Instagram, Pinterest, and LinkedIn