The McLaren Group, creator of some of the most desired sports cars on the planet. Cars that are not exactly cheap, but that is no guarantee of business success. Until last September they accumulated more than 325 million in losses. Given these figures, the Bahrain Mumtalakat Holding Company, the sovereign fund of the Kingdom of Bahrain (known as Mumtalakat) has increased its participation in the company from 60% to 100%.
The purchase of the British company created by Bruce McLaren promises greater short-term stability and a guarantee for the future, with solvency in order to create its next generation of automobiles since the company's shareholding has been reorganized.
According to McLaren in a statement, the entry of the Bahrain fund represents an “important milestone in the automotive group's transformation process.” McLaren Group includes, in addition to street cars, the F1 team and other competitions, automotive electronic components, applied technologies… The Mumtalakat fund participates in hotel, energy and infrastructure companies, the Bahrain Circuit or the Motorsport company Prodrive .
McLaren's losses reached 325.43 million euros in 2023. Despite selling 1,569 vehicles, turnover fell from 418.2 million pounds in 2022 to 342.7 million from January to September 2023. Now, the recapitalization will allow us to focus “on the realization of our long-term business plan, including investment in new products and technologies, while we continue to explore possible technical partnerships with industrial collaborators.”
The McLaren range has models such as the McLaren 750 (sold out until the end of 2024) or the “rational” McLaren GTS, in addition to the Artura, the plug-in hybrid supercar.
