Categories: News

McLaren raises 640 million, especially from Saudi Arabia

McLaren continues to recover from the crisis, thanks to investment from Saudi Arabia in particular.

McLaren has been hit hard by the Covid crisis. In 2020, the supercar manufacturer had to cut 1,200 jobs (be more than a quarter of its employees), and came close to bankruptcy. The losses have accumulated, the debts too. Fortunately, theBahrain State, one of McLaren’s shareholders, then came to his rescue with an injection of just over 150 million euros. Then the builder had to sell its historic headquarters in Woking, the McLaren Technology Center, which it now rents.

Towards an end to the crisis for McLaren

To consolidate its future, McLaren has just completed a new fundraising. In all, these are 550 million pounds (around 640 million euros) which have been invested in the brand. The majority of this funding (400 million pounds) comes from an alliance between a american background, Ares Management, and the sovereign fund ofSaudi Arabia, which thus enters the capital of McLaren. The remaining 150 million pounds come from smaller shareholders, new and existing.

In short, good news for the long term future McLaren, which is beginning to recover from the health crisis. Sales have increased by 69% compared to the first quarter of 2020, and net losses were limited to around 55 million euros, against almost 130 million in 2020.

Source: Auto Actu

Read also :

Recent Posts

The Bertone Genesis, the ugliest Lamborghini in history?

Did Lamborghini make a design mistake when designing the Genesis, this funny minivan? To tell…

22 hours ago

He has his car stolen and destroyed, his insurance does not want to know!

After having his car stolen, he had found the thieves driving the damaged vehicle… The…

23 hours ago

Renault and Nissan want to relaunch in India

A few days after the reorganization of their alliance, Renault and Nissan are already preparing…

1 day ago

New distance record for an electric Volvo truck

Despite some logistical problems, the Volvo electric truck managed to cover 3000 km in record…

1 day ago

Tolls: this senator is very upset against motorway companies

While the price of tolls has risen sharply, the senator of Essonne, Vincent Delahaye speaks…

1 day ago

Speeding: he flees the police then finally changes his mind

Intercepted in very high speed, a motorist decided to flee the police. Before an astonishing…

1 day ago

News: Audi unveils the Activesphere concept car

The fourth member of the “Sphere” family of electric concept cars, the Activesphere heralds a…

1 day ago

This website uses cookies.