McLaren Group now owned by Bahrain's sovereign wealth fund

The McLaren Automotive division will now get the financial support required to fund its future models and electrify its lineup.

According to reports, McLaren Group now has a new owner in the form of Bahrain Mumtalakat Holding Company - the country's sovereign wealth fund.

As per reports, the Bahrain company has expanded its ownership stake in the McLaren group from 60% to 100%. Paul Walsh, Executive Chairman of McLaren Group, stated that the takeover "will further enable us to focus on delivering our long-term business plan."

Apart from this, there are very few details as to how the takeover would affect McLaren Automotive and its Formula 1 team. Reports state that the Automotive division of the British marque will now get the financial support required to fund its future models and electrify its lineup.

With the takeover, McLaren could also finally introduce its new hypercar, which the company is already said to be "fine-tuning". The upcoming McLaren hypercar is said to be powered by a V8 engine paired with a plug-in hybrid unit, producing a total power output of over 1000 BHP. It is expected to feature gullwing doors, an all-new carbon-fibre chassis and 3D-printed suspension components.

Source: Car&Driver