BAC, British maker of $300,000 supercars eyes Middle East's ultra-rich

Britain's Briggs Automotive Company is opening its first dealerships in Saudi Arabia as it eyes new markets among the ultra-wealthy Sheikhs and business tycoons of the Middle East for its $300,000 supercars.

BAC, as the firm is known, will look to sell its Mono single-seat, road-legal racing car across the Middle East from bases in Riyadh and Jeddah.

One of its models on display at the Jeddah Formula 1 race earlier this year generated strong interest from potential customers, the company said. Its flagship Mono R supercar starts at about $300,000, with many elements custom built for the buyer.

The Liverpool, UK-based firm has been growing internationally. It began operations in the US recently, following an expansion in Asia earlier this year.