CYVN Holdings, based in Abu Dhabicar manufacturer McLaren’s car signed a non-binding agreement to buy its operations from Bahrain’s sovereign wealth fund Mumtalakat. The agreement allows McLaren to move from Bahrain to Abu Dhabi.

Mumtalakatwhich started its investment in 2007 with the purchase of shares from Ron Dennis and Mansour Ojjeh, took full control of it earlier this year. He became the owner of McLaren.

A new era in McLaren electric vehicle technologies

McLaren Formula 1 team included McLaren, a luxury car manufactureris preparing to establish a potential partnership with CYVN Holdings as a result of Mumtalakat’s search for foreign investment. The investment will accelerate McLaren’s growth in electric vehicle technologies and engineering.

CYVN CompaniesThe synergy provided by strategic investments such as NIO Inc., Forseven and Gordon Murray TechnologiesMcLaren’s product strategy will contribute. All details of the agreement have not yet been fully disclosed, but this development is expected to have significant implications for the automotive industry.