McLaren Merges With Unknown Startup To Launch New Models, Maybe An SUV

In an industry where ownership changes faster than tire compounds at Monaco, McLaren has had its fair share of musical chairs. The McLaren Group, passed around like an unloved pet in recent years, found itself 100% owned by Bahrain’s sovereign wealth fund as of early last year. Then, in October, the fund handed off its stake to Abu Dhabi-based investment group CYVN Holdings. Now under new ownership, McLaren Automotive is merging with a company we bet you’ve never heard of.

That company is a British start-up called Forseven, which already has significant financial backing from CYVN Holdings. It has already hired more than 700 automotive industry experts and was planning to release several luxury models into the market. Now that it’s tied up with McLaren, these planned models will hit the market using the McLaren badge.

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The newly formed McLaren Group Holdings will consist of McLaren Automotive, Forseven, CYVN’s non-controlling stake in McLaren Racing, and the new McLaren Licensing business. CYVN is also a major stakeholder in Chinese EV brand Nio, and says McLaren will gain access to “visionary technologies and electrification.” Forseven’s own push into the automotive space has been helped by Gordon Murray Technologies, which CYVN also owns.

Thanks to the merger, McLaren’s range will grow into new product categories. No confirmation has been given about what these categories will be, but it’s reasonable to assume McLaren will grow beyond just selling supercars and hypercars, and may finally follow its rivals in building an SUV.

Future Model Plans

The brand has repeatedly denied working on an SUV in recent years, but last year, reports surfaced suggesting it could partner with BMW on an SUV. While that won’t be happening because of this deal, a different SUV project could be in the works.

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Leading the newly formed McLaren Group Holdings will be Forseven CEO Nick Collins. The company is working on a six-month turnaround for McLaren Automotive and will reveal details about its future models later this year. Collins confirmed to Autocar that Forseven and McLaren will work on both ICE and EV models. It’s also possible that features like Nio’s autonomous driving features, and perhaps even its battery-swapping technologies, could be used while leveraging McLaren’s expertise in carbon fiber monocoques.

“This is a financial investment that we will build out and, in my mind, become one of the best, if not the best car company in the world,” Collins described. “That might take a very long time, but the people that back this have a long-term horizon for a sustainably profitable business that is admired around the world.”

McLaren shifted a touch over 2,000 cars last year, well behind the likes of Ferrari and Lamborghini, which delivered over 13,000 and over 10,000 cars, respectively. But, with McLaren venturing into new vehicle segments, its output will inevitably swell.