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Singapore businessman invests in McLaren Automotive

NEWS STORY
19/08/2011

McLaren Automotive has announced that Singapore-based businessman Peter Lim has completed a significant investment in the company.

Lim, a successful business leader and philanthropist in Singapore, joins the McLaren Automotive Board of Directors with immediate effect.

With Lim's investment, McLaren marks another major milestone in its global growth strategy. The introduction to the McLaren Automotive board of an influential and well respected partner in Asia will strengthen the company's corporate and trading influence in the region at a time of encouraging demand for the company's first 'pure' McLaren sports car, the MP4-12C. Demand is strong with the retailers in the Asia-Pacific region confirming orders that account for around 18 months of production.

"On behalf of the McLaren Automotive board, I welcome Peter Lim to McLaren and look forward to working closely with him as our company expands into the Asia region," said Ron Dennis, Executive Chairman of McLaren Automotive and McLaren Group. "This is a very exciting time for us and, as part of our growth strategy, we have been absolutely rigorous in ensuring that the right partners join us; those who are focused on supporting McLaren Automotive through investment that generates strong returns and strategic growth for the future. Peter Lim's track record in Asia as a highly respected business leader adds further quality to our board in this highly competitive business environment at an exciting time for the company."

McLaren Automotive is designing, developing, and manufacturing a range of exclusive and premium 'pure' McLaren sports cars; selling and servicing the range through its global network of dedicated McLaren retailers. An initial network of 35 experienced retailer partners represent McLaren across 19 countries worldwide in 2011, including Hong Kong, Japan, and Singapore. McLaren Automotive has started distributing the first MP4-12Cs to retailers and customers in the UK and mainland Europe, with distribution in the Asia-Pacific region anticipated from late-2011. The retail network is set to expand conservatively from 2012, including further growth in the Asia region.

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