McLaren Automotive is set to merge with electric vehicle startup Forseven Holdings, in a move that is set to re-invigorate the struggling supercar manufacturer. The move follows the completion of McLaren’s acquisition by Abu Dhabi-based CYVN Holdings, which also secured a minority, non-controlling stake in McLaren’s Formula 1 operation as part of the deal announced on 3 April.
The merger lays the foundation for a new chapter under the newly formed McLaren Group Holdings Ltd, and for the first time in its existence McLaren will expand beyond its core focus on mid-engined supercars to include SUVs and fully electric vehicles – capable of competing more directly with rivals like Ferrari and Porsche.
Backed by CYVN – which also has a share in Chinese EV heavyweight NIO and in 2023 acquired Gordon Murray Technologies (this includes the iStream production technology, and is separate from Gordon Murray Automotive) – McLaren will now benefit from cutting-edge EV expertise.
Nick Collins, who led Forseven since 2024, has been appointed CEO of McLaren Group Holdings. He noted: ‘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.’
Though little is known about Forseven’s own products, the company has reportedly spent three years developing a new vehicle platform. Now integrated into McLaren, this work is expected to yield a new generation of high-performance EVs bearing the McLaren name – potentially including a long-rumoured electric SUV.
The merger also ushers in a restructuring of McLaren’s broader portfolio, which will now include CYVN’s interests in McLaren Racing and a newly formed McLaren Licensing business. A turnaround plan to improve operational efficiency at McLaren Automotive is already under way, with more details expected before the end of the year.
CYVN Chairman Jassem Mohamed Bu Ataba Al Zaabi, who will also chair McLaren Group Holdings commented: ‘This is the start of an exciting new era for McLaren. With access to world-class engineering, technology and leadership, we will push boundaries and deliver innovations that shape the future of luxury performance.’
