Wednesday, December 4, 2019

McLaren Automotive Confirms Entry into Philippine Market


After all the speculations and rumors, it can finally be said: McLaren is finally coming to the Philippines. This was revealed by no less than McLaren Automotive CEO Mike Flewitt in a meeting with journalists in Detroit.

As reported by Reuters, Flewitt says McLaren sales have started to fall in the United Kingdom, its largest market. With that, the British carmaker is looking to the United States and Asia to remain strong.

In particular, Flewitt indicated solid plans to open up shop in the Philippines as well as Vietnam, India, and Russia. No solid timelines or details were outlined.

McLaren Automotive’s aggressive expansion plans also include the company’s first-ever hybrid supercar underpinned by a new architecture. They also plan to consider an initial public offering by 2025 which will include all facets of the McLaren business including its racing team and technology division.

plans are part of the carmaker’s plan to consider an initial public offering or IPO by 2025.

Source: Reuters

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