Contrary to some reports, the McLaren Group has not been sold to Audi
After a busy morning of speculation surrounding a possible sale of the McLaren Group to Audi, and therefore the VW Group, McLaren Group has released an official statement denying that there is any prospect of any part of the business being sold, as it stands.
In a statement released to the media, it said: “[The] McLaren Group is aware of a news media report stating it has been sold to Audi. This is wholly inaccurate and McLaren is seeking to have the story removed.
“McLaren’s technology strategy has always involved ongoing discussions and collaboration with relevant partners and suppliers, including other carmakers, however, there has been no change in the ownership structure of the McLaren Group.”
The McLaren Group itself has been weathering a challenging financial period over the last 24 months, but following a comprehensive fundraising campaign and a management restructure that saw the resignation of CEO Mike Flewitt and the implementation of two new non-executive board members including ex-Porsche CEO Michael Macht, the brand essentially hit the reset button, making the notion of a wholesale buyout so soon after something of a stretch.
BMW has also been in the news with a report from Germany suggesting it was interested in acquiring the McLaren Group, but representatives from Munich have also since quashed that report in a conversation with Reuters, confirming it has no interest in purchasing McLaren as a whole entity. Any plausible tie-up between the two brands would more likely come in the form of a technical partnership or collaboration – something BMW typically welcomes – agreeing to the supply of powetrains to companies like Morgan and Toyota, not forgetting its historical tie-up with McLaren in the development of the iconic F1’s V12.
As per McLaren’s statement, discussions about potential technical partners are a key part of securing the financial resilience of the Racing, Automotive and Technology parts of the business. This doesn’t rule out a potential equity partnership with either Audi or BMW in a similar fashion to AMG’s relationship with Aston Martin, but any potential buyout seems to be off the table for now.
This article originally appeared at evo.co.uk
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