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Speaker 1: McLaren which is owned by Bahrain Soareg, whilst fun Mobtealaka

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Speaker 1: has launched its largest showroom in the world right here

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Speaker 1: in Dubai. Company is undergoing a recapitalization that will see

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Speaker 1: the introduction of a new electric Supercarver before the end

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Speaker 1: of the decade. The McLaren Automotive CEO, Michael Lighters, joins

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Speaker 1: us now for more. Michael, can you give us a

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Speaker 1: little bit of insight as to what kind of quantities

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Speaker 1: you be able to sell in the.

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Speaker 2: Middle East through your new platform here in Dubai.

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Speaker 3: Yeah, good morning. Usef for Dubai and the region Medle

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Speaker 3: East is very important for us today It's only about

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Speaker 3: two percent of our volume which we sell the world

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Speaker 3: worldwide in this area, but we are believing strongly in

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Speaker 3: the growth of this area for us. It's a big potential.

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Speaker 3: The customer base he is huge. They are very interested

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Speaker 3: in seper costs and bespoke secution of supercars. And as

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Speaker 3: you said, we have yesterday had the grand opening of

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Speaker 3: our new dealership here in Dubai with EWA Group. This

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Speaker 3: is our biggest worldwide, biggest McLaren dealer ship now and

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Speaker 3: we are very proud. We we know we have the

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Speaker 3: best partner to do this growth path.

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Speaker 2: Now here in.

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Speaker 3: The Middle East region and especially in.

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Speaker 1: Dubai, McLaren has been struggling with supply constraints and some

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Speaker 1: of it is specifically to the artural hybrid model. What

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Speaker 1: are your expectations for deliveries? What is the situation today?

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Speaker 3: So we are on a good path. We have taken

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Speaker 3: several actions or in our factory and with our supply

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Speaker 3: ways together to enhance this situation. It is important to

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Speaker 3: say that this product is fantastic. The feedback from the

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Speaker 3: media from our customers is super positive. This is a

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Speaker 3: real super car which is combining the best from the

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Speaker 3: IC the internal combustion technology with the electrification, the battery technology,

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Speaker 3: fantastic driving performance, super feel super connected to the cause.

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Speaker 3: We are very happy about our feedback with our tour

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Speaker 3: and especially in this market, will be very important also

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Speaker 3: for the success of that toura.

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Speaker 2: Okay, Michael.

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Speaker 1: The recapitalization process has been on the way for a

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Speaker 1: few months now, and I've been speaking to a few

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Speaker 1: people and there's there's a broader question as to why

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Speaker 1: it's been dragging on for so long. What's the hold up?

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Speaker 3: So The recapitalization for us is a very important process

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Speaker 3: for two reasons. The first one is that we want

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Speaker 3: to simplify our capital structure, and the second one is

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Speaker 3: that Liz's oppossy also simplifying our governance and makes it

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Speaker 3: easier to bring in new funding to the company to

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Speaker 3: do the investments for our future. As you know, we

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Speaker 3: are for a quite complicated cable structure. Right now, we

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Speaker 3: have four different kinds of equity and it's crucial for

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Speaker 3: us to simplify that and bring it to only one equity.

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Speaker 3: We are working together with our shareholders. You mentioned muntal

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Speaker 3: a cat for that. That is very very important. But

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Speaker 3: it's a positive process. Legally not easy, a little bit complicated,

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Speaker 3: but we are in a good way to do that

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Speaker 3: and we are very confident and positive that we can

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Speaker 3: close this process shortly.

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Speaker 1: Every supercar brand has had the internal debate as to

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Speaker 1: whether or not they should launch an suv, and it

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Speaker 1: usually starts with oh, we're not the suv kind of brand,

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Speaker 1: and then you know, a couple of years later they're like, Okay,

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Speaker 1: we'll do an suv.

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Speaker 2: H We'll do an suv and do it really well.

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Speaker 2: Running where you are with.

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Speaker 1: That today in terms of potential, design, potential delivery.

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Speaker 3: Yeah, as you know, for my pedigree, I don't have

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Speaker 3: any problems about the SUVs. But I have to say

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Speaker 3: the first step for our company is that we have

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Speaker 3: to focus on our core. Our core are super costs.

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Speaker 3: We have to prepare our future for super costs. To

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Speaker 3: find the right technology. We are pointing very heavily on

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Speaker 3: hybrid technology, but they will be also on the one

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Speaker 3: end side the niche for internal combustion engine, which is

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Speaker 3: for this region very positive. In the back you see

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Speaker 3: the seven fifty, which has a big, huge positive response

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Speaker 3: from our Casta base, especially here in the GCC. So

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Speaker 3: we are very positive and that we are preparing. Also

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Speaker 3: we have started to think about how should an electric.

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Speaker 2: Supercar look like.

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Speaker 3: We think right now the technology is not ready for that.

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Speaker 3: It will take until the end of the decade. So

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Speaker 3: we are focusing on that and if we are here

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Speaker 3: in good shape, we will also explore new segments and

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Speaker 3: the new opportunities for us, and SUV could be one

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Speaker 3: of that.

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Speaker 1: I be speaking of new segments, Michael, I mean from

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Speaker 1: what we understand, you've been speaking to other potential partners

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Speaker 1: to explore these other ideas. Can you confirm that you've

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Speaker 1: been speaking to BMW Human Day, Jelian and Lucid about

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Speaker 1: helping you out to kind of look beyond just the supercars,

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Speaker 1: and where are those discussions?

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Speaker 3: So we can't confirm any OEM who's speaking with us,

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Speaker 3: or this wouldn't be also fair with any possible and

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Speaker 3: potential partner. We are open to have these discussions. For us,

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Speaker 3: it's always important to consider two points. On the one inside,

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Speaker 3: we want to have have a partner if we go

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Speaker 3: in a partnership that allows us to maintain our DNA

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Speaker 3: for our brand and for our product, which is always

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Speaker 3: performance and which is accelerating experience for our customers. And

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Speaker 3: the second is we have to find technological teunergies. And

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Speaker 3: these are the two things we have to consider, and

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Speaker 3: then everybody can can be an opportunity.

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Speaker 2: All right.

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Speaker 1: Speaking of opportunity, we also need to talk about EVS

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Speaker 1: and the timeline for that, because you've talked before about

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Speaker 1: the need for the McLaren cars to continue to be agile,

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Speaker 1: to continue to be light, which is a very different

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Speaker 1: proposition from the Porsche tie kind. For example, when you

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Speaker 1: think you're going to hit that sweet spot where the

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Speaker 1: weight is no longer an issue and you still can

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Speaker 1: hang on to a range.

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Speaker 3: Yeah, you are totally right.

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Speaker 2: Wait is super important.

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Speaker 3: You need also the right range if you go an

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Speaker 3: electric and you push in a supercar. The battery technology

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Speaker 3: is so much so it will take some time. I

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Speaker 3: don't expect this technology ready for real supercars before the

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Speaker 3: end of the decade. We don't want to do an

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Speaker 3: electric car which weighs two tons and then have two

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Speaker 3: thousand horse powers. We have to come to the weight

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Speaker 3: raging regions or areas where we are today with one thousand,

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Speaker 3: five hundred er kilograms, and especially for McLaren weight in

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Speaker 3: the core of our brand. We can't afford to have

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Speaker 3: a heavy car which is not nimble and the driver

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Speaker 3: is not connected to the car when it goes to

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Speaker 3: to the curve into on a track. So this is

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Speaker 3: crucial for us.

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Speaker 2: Not before the end of the year. Okay, Michael, fantastic

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Speaker 2: to see you. Thanks again.

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Speaker 1: I'll see if I can stop by and I kind

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Speaker 1: of give it the spin that some Michel lnders us

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Speaker 1: to McLarin Automotive CEO