Sold: The significance of McLaren’s new owners.

tiny, oil-rich country McLaren’s ability to compete with Ferrari and Porsche for a very long time in an electric future has been preserved by Bahrain.

Late last month, Mumtalakat, the state-owned sovereign wealth fund of Bahrain, acquired a controlling stake in both the Formula One team and the McLaren Group, bringing its ownership to 100%.

Up until then, the future looked increasingly grim for McLaren, the financially troubled supercar manufacturer, which reported a staggering loss of A$533 million in just the first nine months of 2023.

McLaren had already taken drastic measures during the early days of COVID-19, cutting over 1,000 jobs in a

restructuring effort. In 2021, further financial strain led them to sell their iconic Woking headquarters, the McLaren

Technology Centre, for US$240 million (A$370 million), then lease it back for 20 years from the new owner, US property giant Global Lease Network.

The brand’s new hybrid V6 Artura sports car represented a crucial gamble for McLaren, but it faced setbacks

including parts shortages and embarrassing software glitches, even suffering an on-track fire during its international media debut.

However, McLaren described the deal with Bahrain’s sovereign wealth fund as a “major milestone,” marking a new chapter in the history of a brand established by New Zealander Bruce McLaren.

With its financial footing secured, McLaren can now turn its attention to developing hybrid and electric models essential for navigating a more sustainable future.

McLaren is reportedly in the process of developing a hybrid V8 powertrain for its upcoming Ultimate Series

supercar, continuing the lineage that produced models like the P1, Senna, and Speedtail.

According to Automotive News, the new car will feature an innovative carbon-fibre monocoque design integrating

seat backrests directly into the chassis, inspired by Formula 1. The doors will adopt a unique outward and forward-

pivoting mechanism akin to Koenigsegg’s, while the suspension components will be crafted using 3D printing technology.

In addition to these advancements, McLaren envisions a future that includes all-electric models, with discussions

reportedly underway with Polestar, BMW, Lucid, and Hyundai regarding potential partnerships in electric vehicle engineering, as reported by the BBC.

At a confidential dealer conference, McLaren hinted at exploring the concept of a four-door, four-seat vehicle,

possibly entering the realm of super-crossovers akin to Ferrari’s Purosangue.

The acquisition by Bahrain is expected to allow McLaren the freedom to enhance the quality and resale value of its vehicles, addressing priorities highlighted by both new and existing customers.

Overall, McLaren’s future looks promising for enthusiasts of sports cars and driving, thanks to Bahrain’s

commitment ensuring the continuation of a distinguished brand with a focus on innovation and excellence.