A new wave of all-electric McLarens may shortly be on their way, following a successful merger between McLaren Automotive and British luxury EV startup Forseven.
Forseven, currently owned by Abu Dhabi-government-backed investment firm CYVN Holdings, was founded in 2022 and, following this merger, will cease to exist as a standalone entity. The company will instead be consolidated into a brand-new group with McLaren Automotive, also sold to CYVN Holdings last October, as ‘McLaren Group Holdings Ltd.’
As confirmed in an official statement, the merger means the McLaren’s line-up “will be expanded into new product categories,” suggesting, alongside mooted plans to introduce luxury SUVs, that the British brand will follow-up its hybrid Artura supercar with a new range of all-electric models to go head-to-head with Ferrari’s first ever EV, set to be launched in 2026 reportedly for half a million USD.
Ambitious Six-Month “Turnaround Plan” Already Underway
As well as securing the financial future of McLaren Automotive, work is already underway to increase McLaren’s product lineup with a proposed “turnaround plan.” This would include structural and operational changes behind closed doors, as well as improved global supplier and dealer relationships, with results expected within the next six months.
As of 2023, CYVN also holds a strategic investment in Chinese EV hypercar manufacturer NIO, which currently produces the 1,341-horsepower EP9. This consequently provides McLaren Holdings with “access to visionary technologies and electrification.”
“Three years of ‘stealth mode development’ at Forseven seen as crucial to McLaren Group Holding’s new ‘turnaround Plan’.”
Moreover, three years of what the company calls “stealth mode development” at Forseven is seen as a key part of this new strategy. This included a mass hiring of new personnel and investment in infrastructure, with the original plan being to introduce a brand-new, British, all-electric, luxury startup brand later this year. It is believed, however, that this plan has been scrapped, with all new EV models currently under development to be refashioned as McLarens. Nio is expected to oversee the battery requirements and autonomous driving technology.
Gordon Murray Technologies meanwhile, the eponymous company of McLaren F1 father Gordon Murray, was also integrated into Forseven in 2023. The British engineering firm thus becomes an integral part of McLaren Holdings, and will presumably be at the forefront of the lightweight architecture for any new all-electric McLaren products.
No firm confirmation has been provided, however, McLaren stating only that further details will be announced later this year.
New CEO And New Chairman For McLaren Holdings
Forseven’s former CEO Nick Collins, formerly the executive director of vehicle programs at JLR, has taken the Chief Executive Officer tiller at McLaren Holdings.
“With the support and ambitions of our shareholder, we have a unique opportunity to sustainably grow McLaren into a world-beating company. The combination of what McLaren has achieved, and what Forseven has built in a short time is incredibly complementary. Together, we believe McLaren can be more, can do more and can offer more.”
“We believe McLaren can be more, can do more and can offer more.”
CYVN Holdings chairman Jassem Mohamed Bu Ataba Al Zaabi, meanwhile, takes up a similar role with McLaren Holdings, with the Emirati similarly keen to push the “next chapter” for McLaren.
“With our active ownership through CYVN Holdings and our portfolio of complementary businesses and strategic investments, McLaren will have access to world-class engineering and design excellence, leading-edge technology, and experienced leadership in advanced mobility. These resources will fuel McLaren’s next chapter, enabling the brand to stay at the forefront of innovation.”
CYVN also holds a non-controlling stake in the McLaren Racing, including its Formula 1 team.
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