The British marque is using the extra cash to make upgrades to the much-postponed model.
A McLaren spokesman confirmed the sale of the historic vehicles to Bahrain’s sovereign wealth fund Mumtalakat Holding Co. but did not share details regarding the specific cars. Mumtalakat, which owns nearly 60 percent of McLaren, agreed to support the automaker with an additional $123 million . , the heritage collection includes more than 50 high-performance rides, as well as a large number of Formula 1 race cars.
McLaren has sought emergency financing from shareholders numerous times over the past few years to help with the launch of the Artura. Just a few months ago, investment firm Ares Management Corporation and Saudi Arabia’s Public Investment Fund gave $154 million through convertible preference shares.
The recent cash injections still may not be enough. McLaren said it is in talks with all shareholders “regarding a recapitalization of the group.” It is also looking for potential partnerships to generate more scratch. The Artura will be worth it, of course. Starting at $233,000, the supercar will be equipped with a 3.0-liter V-6 and an axial flux electric motor that can collectively produce 671 hp.
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