Liverpool-based supercar manufacturer Briggs Automotive Company (BAC) has secured new export wins to the United States and Hong Kong to the value of £20 million, following support from the Department for International Trade (DIT).
The company manufactures the world’s only road-legal, single-seat supercar, the BAC Mono, and launched a higher-powered, lighter, next-generation model – the BAC Mono R – in July 2019 to global acclaim.
Founded in 2009 by brothers Neill and Ian Briggs, the company has grown and now employs 30 members of staff, with dealership agreements in place in the USA, Canada, Hong Kong, Japan, Sweden and Mexico. In January 2017, DIT awarded BAC Export Champion status.
BAC strategically targeted the United States – the number one luxury goods market in the world – approaching potential dealers across the country. In 2019, the company signed two new dealership agreements with Manhattan Motorcars in New York and Tactical Fleet in Dallas.
Meanwhile, in Hong Kong, the hugely successful BAC Hong Kong contract was renewed with further Monos exported to the region and a number of Mono R supercars to follow.
The Secretary of State for International Trade, Liz Truss MP, commented:
“I’m absolutely delighted that DIT has helped BAC to hit the accelerator on its exports. This is a wonderful example of a UK company that is putting manufacturing and innovation from the Northern Powerhouse on the map.
“The UK’s heritage in automotive and motorsports is a huge asset, and my department is working to shift our exports up a gear in this exciting and fast moving industry.”
Neill Briggs, Director of Product Development at BAC Mono, commented:
“These new export wins are a sign of how far we’ve come as a business in recent years and the immense work we’re doing with exports.
“Our solid export strategy, fantastic team ethic, exemplary product and – of course – invaluable support from the DIT means we have the ultimate recipe for success overseas. We will continue to strive to put British manufacturing on the map for the foreseeable future.”
Performance car manufacturing and motorsport contribute billions of pounds to the UK economy every year. According to research published by the Motorsport Industry Association, there are around 41,000 people employed in UK motorsport, of which 25,000 are engineers.
The sector is seeing rapid growth as global car manufacturers are increasingly turning to UK motorsports companies for help with the development of low carbon technology for road cars.
Motorsport Valley in the UK is the undisputed leader in global motorsport having a dominant role in Formula 1 and other international racing series. Home to some 4,500 design, precision and high-performance engineering companies, the motorsports sector is behind enormous levels of investment in R&D.
Over 25,000 highly skilled engineers work in Motorsport Valley, while 30 UK universities and over 140 colleges are now teaching about motorsport.