McLaren have confirmed that a deal has been struck to sell their Applied technology division to investment group Greybull. This arm of the McLaren Group plays a pivotal role in Formula 1, supplying the ECU that is used in all of the power units. Despite the sale, McLaren did though confirm that the division will remain based at the McLaren Technology Centre, with the current management team still in place. In their statement, McLaren made it clear that the sale was part of their strategy to focus exclusively on supercar manufacturing and elite motorsport, raising further funds as part of their financial restructuring. Already £185m has been secured through the sale of a 15% stake in...
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