McLaren Group is reportedly close to securing a new funding injection worth more than £100m as it races to bring its latest supercar models into full production.
According to Sky News, the car maker is close to finalising a new equity raise that would give it access to at least £80m of additional capital in what insiders said amounted to a show of confidence from existing investors.
It was understood that McLaren shareholders including Saudi Arabia’s Public Investment Fund (PIF) sovereign wealth vehicle and its Bahrain-based counterpart Mumtalakat, are expected to be among those supporting the latest cash call.
A person close to one investor told Sky it could be finalised as soon as Wednesday evening.
The new funding is being raised to help deliver new McLaren road cars at a time when the global automotive industry is under pressure from supply chain challenges and economic headwinds.
The Artura, a McLaren hybrid supercar, has received a string of positive reviews and is expected to be followed in the coming years by a series of other new models reflecting the sector’s shift towards electrification, Sky said.
