.McLarenAuto selling heritage collection cars (temporarily) to finance Artura:
with a list of which vehicles were sold but confirmed that the cars are not going away. In fact, they're being licensed back to McLaren and are staying at the Woking headquarters. McLaren is hoping to buy the entire collection back as part of recapitalization plan involving shareholders, which it hopes to have finalized in Q1 next year according to the spokesperson.
It's no secret that McLaren has been strapped for cash for a few years now. In 2020, after pausing production and cutting 1200 employees from its workforce, the Woking, England, based outfit was bailed out by the National Bank of Bahrain. No surprise there, given that the Bahrain Sovereign Wealth Fund is the primary shareholder of both the bank and McLaren. In that same year, the company was denied a line of credit with the British government worth roughly $160 million.
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