Abu Dhabi-based CYVN Holdings has finalized its acquisition of McLaren Automotive, merging it with the British luxury car brand Forseven and Chinese electric vehicle (EV) technology from Nio. This move results in the formation of a new entity, McLaren Group Holdings, which is expected to lead to job reductions.
The deal also includes CYVN taking a non-controlling stake in McLaren Racing, which will now be part of the group, as well as a majority shareholding in McLaren Licensing. Nick Collins, the newly appointed CEO of the combined group, will oversee the changes.
While the deal’s value has not been officially disclosed, reports suggest it could be as high as $1.2 billion. CYVN Holdings, which specializes in mobility investments, already owned Forseven, a British luxury start-up that has operated in stealth mode for the past three years under Collins. Additionally, CYVN acquired Gordon Murray Technologies in 2023 to strengthen its expertise in engineering and lightweight design. CYVN also has a strategic investment in Nio, a Chinese electric car company. This partnership will bring software, hardware, and electrification technologies to both Forseven and McLaren, enabling the group to expand into new product categories, with announcements expected later this year.
As part of the acquisition, a turnaround plan is now being implemented for the existing McLaren operation, set to unfold over the next six months.
Jassem Al Zaabi, who will become Chairman of the new group, emphasized the broader vision behind the deal. “This is not just about investing; it’s about shaping McLaren’s future. We aim to push boundaries and deliver groundbreaking innovations in the automotive sector,” he said.
Collins, the new CEO, echoed this vision, stating, “This marks the beginning of an exciting new era for McLaren. With the support of CYVN Holdings, we have access to world-class engineering, cutting-edge technology, and leadership in advanced mobility, all of which will drive McLaren forward.”
He further explained, “We have a clear strategy for rapid growth. Our focus will be on optimizing operations, improving efficiency, and reshaping the organization to grow our car portfolio, enhance customer experiences, and strengthen global supplier and dealer relationships.”
