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Singapore billionaire Peter Lim invests in McLaren Automotive

Singapore billionaire Peter Lim has invested in McLaren Automotive and has taken a spot on the board of directors along with Ron Dennis, Mansour Ojjeh and the Bahrain Mumtalakat Holding Co., McLaren said on Friday. The company declined to reveal the amount of the investment, but privately held McLaren said it is a “significant amount.” More details of the deal will be announced closer to the Singapore Grand Prix. Lim is ranked as the eighth-richest businessperson in Singapore, according to Forbes, and he owns a chain of Manchester United-themed restaurants and bars in Asia.

Veritas RS III World Debut at Salon Privé

The Veritas RS III will debut at Salon Privé in July [ad#ad-1] Vermot AG are responsible for the Veritas RS III, a modern day recreation of a 1940s German racer. And it does look pretty stunning. It weighs in at less than 2400lbs but features a either V10 BMW (as in the M5) or a V8 (as in the M3), offering either 600bhp or 480bhp.

Autonomous cars on British roads by January 2015 – Vince Cable

By Tim Pollard Motor Industry 30 July 2014 09:18 The British government today announced new laws to allow autonomous cars on UK roads by 2015, prompting a review of the Highway Code and new legal measures to make sure driverless cars comply with current motoring law. Business secretary Vince Cable attended an event at the motor industry test facility at MIRA in the Midlands to unveil the measures, which include a £10 million regional fund for cities to apply to become a driverless car test area. Up to three cities will be selected to share the funding for trials that are expected to last between 18-36 months.