McLaren Sells Historic Cars to Raise Cash for New Supercar

12/2/2022 12:00:00 PM

02 Dec

McLaren Sells Historic Cars to Raise Cash for New Supercar

Cash-strapped McLaren Holdings Ltd. has recently sold some of its prized heritage car collection to Bahrain’s sovereign wealth fund Mumtalakat Holding Co. to raise capital. 

The super-car maker was forced to seek an injection of funds after identifying “certain technical upgrades” on its Artura hybrid supercar that triggered delivery delays, McLaren said earlier this week during its third-quarter earnings. Its main shareholder -- with Mumtalakat owning a near 60% stake -- agreed to support the company with an additional £100 million ($123 million), the company said. 

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