Singapore Businessman Invests in McLaren Automotive

Singapore-based billionaire Peter Lim has completed a substantial investment in McLaren Automotive, the supercar manufacturer based in the London suburb of Woking. Forbes states that Lim derives his fortune from having a 5% share of palm oil giant Wilmar International. McLaren’s press statement announces that Lim will join the Automotive Board of Directors with immediate effect.

The announcement of the addition of Lim to the board marks a significant step in McLaren’s global growth strategy as he has great influence in the Asian markets. It seems that McLaren hope that Lim will enable them to consolidate and strengthen the company’s position within Asia. Demand for what McLaren dub as the very first ‘pure’ McLaren car, the MP4-12C has been extremely high with Asian/Pacific retailers quoting that orders account for 18 months of production.

In the press release Ron Dennis, Executive Director of McLaren Automotive and the McLaren Group stated:

“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.”

The MP4-12C is the first in a range of sports cars that McLaren Automotive will be releasing and they have launched the car through a new global distribution network. In June, McLaren launched its first showroom at One Hyde Park, Knightsbridge and by the end of this year they will have 35 retailers in 19 different countries. To go with the brand new dealership network, the MP4-12C will be built in a brand new production facility (McLaren Production Centre).

The first MP4-12Cs have been delivered to customers in the UK and mainland Europe, with distribution in the Asia-Pacific region due towards the end of the year. In 2012, the retail network is set to expand much more conservatively and growth in Asia will be aided by the appointment of Lim to the Board of Directors.

This is a guest post by Adil Deshmukh