The release of the McLaren Artura was marked by several delays and issues. Such were the troubles, that the automaker has now revealed that it was forced to sell some vehicles from its heritage collection in order to pay to fix technical issues that were delaying deliveries.
Bloomberg reports that the automaker communicated the sale during its third-quarter earnings call. Although it revealed little about it, including what vehicles were a part of the sale, McLaren did say that the buyer was Bahrain’s sovereign wealth fund, Mumtalakat Holding Co.
The fund is McLaren’s largest shareholder, possessing nearly 60 percent of its shares, and it agreed to support the automaker with a £100 million ($123 million at current exchange rates) cash injection, in exchange for the cars. The automaker said it sought the money after identifying “certain technical upgrades” required for the Artura that triggered delivery delays.
Read: McLaren Artura Delayed Again As Chip Crisis Continues To Wreak Havoc On Production
In addition to the launch of the Artura being postponed because of the COVID-19 pandemic, U.S. deliveries were pushed back in May 2021 because of issues with its software supplier and then, again, in December 2021, due to the limited supply of semiconductor chips.
Although McLaren did not divulge which vehicles it sold from its heritage collection, in its 2021 annual report, the company disclosed that it had 54 Formula 1 race cars and supercars in its coffers. It is not uncommon for the automaker to sell vehicles from the collection from time to time.
Unfortunately, the company is still looking for money as, on its Q3 earnings call, it said that it was in “active talks with all shareholders regarding a recapitalization of the group.” Indeed, McLaren reported a £203 million ($249 million USD) loss in the first nine months of 2022.
At least the Artura is pretty good…
The plug-in hybrid supercar combines a 3.0-liter V6 engine with a motor contained entirely in the transmission. Together, they make 671 hp (500 kW/680 PS) in a car that weighs 3,300 lbs (1,497 kg). Prices for the car start at $225,000.
