McLaren Joins Forces with Unfamiliar Startup to Introduce New Models, Possibly an SUV | Carscoops

      The merger between McLaren and Forseven will enable the British brand to tap into Nio's technologies and expertise.

      Forseven has been working quietly on multiple models.

      This merger will allow McLaren to introduce new traditional internal combustion engine (ICE) and electric vehicle (EV) models.

      They may also adopt technologies from the Chinese EV manufacturer Nio.

      In an industry where ownership shifts as rapidly as tire changes at Monaco, McLaren has seen its share of transitions. The McLaren Group, passed around like an unwanted pet in recent years, became 100% owned by Bahrain’s sovereign wealth fund at the beginning of last year. Then, in October, this fund transferred its stake to Abu Dhabi-based investment group CYVN Holdings. Now under new ownership, McLaren Automotive is merging with a company that many might not be familiar with.

      That company is Forseven, a British start-up that has already secured substantial financial backing from CYVN Holdings. It has employed over 700 experts from the automotive sector and was set to launch several luxury models. Following its merger with McLaren, these models will now be marketed under the McLaren name.

      The new entity, McLaren Group Holdings, will include McLaren Automotive, Forseven, CYVN's non-controlling interest in McLaren Racing, and the new McLaren Licensing division. CYVN also holds a significant stake in the Chinese EV brand Nio, asserting that McLaren will gain access to innovative technologies and electrification solutions. Forseven's foray into the automotive field has been supported by Gordon Murray Technologies, which is also owned by CYVN.

      The merger will enable McLaren to expand into new product categories. Although specifics about these categories have not been disclosed, it's reasonable to speculate that McLaren will diversify beyond just supercars and hypercars and may finally join its competitors in developing an SUV.

      The brand has consistently denied working on an SUV in previous years, but last year, there were reports of a potential partnership with BMW for an SUV. While that is off the table due to this merger, another SUV project may still be in development.

      At the helm of the newly established McLaren Group Holdings will be Forseven CEO Nick Collins. The company aims for a six-month turnaround for McLaren Automotive and plans to unveil details about future models later this year. Collins confirmed to Autocar that Forseven and McLaren will collaborate on both ICE and EV models. Additionally, there is a possibility that features such as Nio’s autonomous driving and battery-swapping technologies may be integrated while utilizing McLaren’s carbon fiber monocoque expertise.

      “This is a financial investment that we plan to develop and, in my view, transform into one of the best, if not the best car company in the world,” Collins stated. “This may take a considerable amount of time, but those behind this project are committed to a long-term vision for a sustainably profitable business that will be respected globally.”

      Last year, McLaren sold just over 2,000 vehicles, a number significantly lower than Ferrari and Lamborghini, which sold more than 13,000 and over 10,000 cars, respectively. However, with McLaren entering new vehicle segments, its production is expected to increase substantially.