Abu Dhabi’s CYVN Holdings to merge McLaren with EV maker
McLaren and Forseven will start producing high-end sport utility vehicles, a strategy employed by Ferrari, Lamborghini and Porsche
McLaren
McLaren LT Group.
After taking control of McLaren Automotive last year, Abu Dhabi’s state-owned CYVN Holdings is starting to roll out its turnaround plans for the venerable British sportscar maker.
The investment company, a unit of the ADIA sovereign wealth fund, is preparing to merge McLaren with its London-based electric-vehicle startup Forseven Holdings, Bloomberg reports.
At that point, the combined company will start producing high-end sport utility vehicles and sedans, following a blueprint that has been successful for Ferrari, Lamborghini and Porsche, the news agency said.
CYVN plans to announce the move in the coming weeks, with former Jaguar Land Rover executive Nick Collins in charge of the merged automaker.