McLaren Recieves A $185 Million Lifelife From Arab Investors

British supercar manufacturer McLaren Group, which includes the Formula One team, has arranged a 150 million pound ($185.2 million) financing facility with the National Bank of Bahrain (NBB) NATB.BH, the Gulf bank said on Monday. The COVID-19 pandemic has hit the company hard, with sales plunging during a factory shutdown. It announced 1,200 redundancies in May.
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MDarringer - 6/30/2020 12:39:24 PM

0 Boost

McLarens will now come with a full-body cloth covering.

Car4life1 - 6/30/2020 2:06:50 PM

+2 Boost

Mclaren is also getting help from Mercedes in F1 who is supplying them with engines/tech to make them relevant again. The Honda engines were a failure on Mclaren’s part.

CANADIANCOMMENTS - 6/30/2020 6:19:07 PM

+2 Boost

McLaren like Aston needs volume models. Stickly only to sports cars is a strategy with too much risk. And if your other business is F1 where you are totally dependent on sponsors and competing with global companies with deep pockets, you really have to wonder if you have a future as an independent firm.

MDarringer - 6/30/2020 7:35:46 PM

0 Boost

McLaren needs a $100K volume coupe, but it also needs the insulation of a major manufacturer. It should NOT do a crossover. The Aston Martin Escape is poorly positioned and poorly realized.