Citing people familiar with the matter, Bloomberg reported on Thursday that McLaren’s main shareholder, the Bahrain Mumtalakat Holding sovereign wealth fund, is considering bringing in new investors who can provide fresh funding and technological expertise.
The report mentioned that some Chinese automakers are among the potential new investors.
Aston Martin, which like McLaren doesn’t have a major automaker behind it, established a technology partnership with U.S. EV startup Lucid last year. That partnership will see Lucid supply some of its leading technology to Aston Martin which plans to launch four EVs in four years starting in 2025.
McLaren hasn’t announced plans for an EV, and if one does come it will likely be something other than a supercar. CEO Michael Leiters has said that EV tech won’t be suitable for a supercar until the end of the decade. He’s also said that McLaren is open to new segments, like the ever-popular SUV segment.
McLaren has been struggling financially since the pandemic. The privately owned company has been receiving funding from existing investors, as well as taking some more extreme measures, like selling historic cars and selling its headquarters in a sale-and-lease-back deal.
McLaren’s shareholders late last year also agreed to a recapitalisation to introduce a simplified share structure with a more streamlined governance process.