At a stroke, McLaren Automotive – which veered from one funding crisis to the next in the later years of its Bahraini ownership, ultimately losing around £900-million in 2023 – is on a stronger financial footing. Nonetheless costs must be cut to hasten breakeven, with 500 jobs going across the group.
“We’ve cleared all the debt,” the new CEO confirms. “We’ve recapitalised the business and we’ve got an incredible board of directors.”
Legendary ex-Ferrari CEO Luca di Montezemolo has joined as an advisor, supplementing former Rolls-Royce cars boss Torsten Müller-Ötvös and McLaren’s hugely experienced executive chairman Paul Walsh.
Big SUV decisions to be made
Along with Collins, this experienced team will need to decide the new McLaren portfolio. Forseven was reported to be working on a second, more sporty SUV to rival the Range Rover Sport. The leaders must decide on the final form of the SUVs, their powertrains, how much of McLaren’s trademark carbon fibre is used in their construction, and the price point. Will it compete with the £150,000 Range Rover Electric or protect McLaren’s position as an F1-honed rival for Ferrari?
Another key question is where – and how – they’ll be assembled. With its purchase of Gordon Murray Technologies, CYVN acquired the rights to the respected ex-McLaren engineer’s iStream manufacturing system, the two electric vehicles the division was developing, and initially advice from Gordon Murray himself. The iStream process is designed to engineer out complexity and therefore weight, be used across a variety of vehicle types and deliver cost-effective manufacturing, so big car companies can launch low-volume, specialist products.
