Abu Dhabi has consolidated its holdings in Chinese electric vehicle maker Nio and the owner of McLaren Automotive under a newly created state-owned investment vehicle, L’imad Holding, Bloomberg reported on Wednesday.
The restructuring involves the transfer of CYVN Holdings, a government-owned investor focused on mobility, to L’imad, people familiar with the matter told Bloomberg. The move is intended to streamline management and centralise selected Abu Dhabi investments, while expanding the remit of the emirate’s newest holding company.
A spokesperson for McLaren confirmed that the company will ultimately be controlled by L’imad, though CYVN will remain McLaren’s direct parent, according to the report. A filing dated Jan. 14 with the U.S. Securities and Exchange Commission showed that L’imad holds a 17.9% stake in Nio.
The filing also said L’imad wholly owns CYVN Investments, which is itself owned by the Abu Dhabi government through the Abu Dhabi Ministry of Finance. L’imad’s board includes members of the UAE royal family and senior government officials, with Sheikh Khaled bin Mohamed bin Zayed Al Nahyan serving as chairman.
CYVN emerged as Nio’s largest shareholder after completing two investments in the company in 2023, totalling $3.3 billion. The partnership has since extended beyond equity. In October 2024, Nio and CYVN agreed to establish Nio MENA, marking the automaker’s entry into the Middle East and North Africa market. Nio opened its first regional battery swap station in Abu Dhabi in February 2025, at Yas Marina Circuit on Yas Island.
CYVN has also expanded into high-performance automotive assets. In April 2025, it completed the acquisition of McLaren’s automotive business and a portion of its motorsport operations, becoming a significant shareholder in the British marque.
Nio founder, chairman and chief executive William Li said in September last year that Nio had an existing partnership with McLaren and was generating technical services revenue from the collaboration.
The consolidation under L’imad suggests Abu Dhabi is seeking to coordinate strategic mobility, technology and automotive investments under a single platform, as it deepens ties with global electric vehicle and performance car manufacturers.
