McLaren sells up to 33% stake in racing unit to U.S. investors

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Separately, McLaren said it is interested in entering Formula E once the company’s battery supply contract ends in 2022 and the electric series introduces its third-generation car.

McLaren Applied Technologies is the exclusive battery supplier until 2022. Williams Advanced Engineering has the next contract.

“We have been precluded from competing in Formula E because we were the battery supplier, so within that FIA tender we are not allowed to compete as a team,” McLaren Racing CEO Zak Brown said.

“With the new generation car coming in 2023, and us no longer being the exclusive battery supplier, that’s a racing series that we find very interesting,” Brown told reporters at Formula One’s season-ending Abu Dhabi Grand Prix on Saturday.

Formula E, an official FIA world championship, has a strong manufacturer interest despite recent announcements by BMW and Audi that they would be leaving at the end of next year.

Formula E chairman Alejandro Agag said last week the exits would potentially free up only one slot in the 12-team series, however, since BMW were technical partners of entry holders Andretti Motorsport.

McLaren is also involved in IndyCar and interested in the World Endurance Championship (WEC) and its highlight 24 Hours of Le Mans.

“Those two series (WEC and Formula E) have our attention, and we want to get through this season, we want to make sure that anything we do is not a distraction to our Formula One efforts,” Brown said.

Reuters contributed to this report

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Saurabh Shukla

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