In a bid to revitalize its brand and reverse years of financial losses, McLaren Automotive Ltd. is set to broaden its portfolio by entering the luxury SUV and sedan market. The move comes as part of a merger with UK electric-vehicle start-up Forseven Holdings under new owner CYVN Holdings LLC, an investment firm based in Abu Dhabi that took control of McLaren in December.
The merger represents a significant shift for the British supercar icon, which for years resisted expanding into the SUV segment. However, following challenges including delays in its Artura model and repeated calls for funding, the new owners are betting that a diversified product range will drive a turnaround. Former Jaguar Land Rover executive Nick Collins will lead the new entity, while McLaren’s current CEO, Michael Leiters, will continue managing the brand’s core operations.
CYVN’s strategy includes leveraging McLaren’s storied heritage to develop a new lineup of high-end vehicles that combine luxury with cutting-edge electric technology. This pivot comes as competitors like Ferrari, Lamborghini, and Porsche have successfully capitalized on rising demand for SUVs, and McLaren now sees a chance to reclaim its competitive edge by tapping into this growing market.
Details about Forseven’s planned models remain under wraps, but the merger is widely seen as the first step toward a comprehensive transformation. In addition to maintaining its traditional supercar business, McLaren plans to use the merger to drive innovation and improve profitability, while also exploring potential synergies with other investments in the electric vehicle sector, such as technology licensing agreements with Chinese EV maker Nio Inc.
