A few hours ago, Financial Times has reported that Apple has approached McLaren Technology Group over a potential acquisition. Apple has declined to comment while McLaren has issued a statement saying that it is not in any discussion with Apple over an investment.
After McLaren issued a statement, Financial Times revealed that they are sticking to their report and sure that the two are in talks over a possible takeover.
It is common knowledge that the California technology group is actively working on a self driving electric vehicle for the past two years and taking over a leading automotive brand like McLaren or an investment into the same would be a likely move. McLaren, with its automotive engineering knowhow along with on-board computer systems and enhanced knowledge into the use of carbon fiber and aluminum for chassis would step up Apple’s automotive endeavors.
McLaren is valued at between £1-1.5 bn and it would be Apple’s next biggest acquisition after the $3 bn purchase of Beats Electronics in 2014.
Apple has scores of engineers working on the car design which it is expected to release by 2020. The company is focusing on self driving software and seeks to enter into an agreement with an established car manufacturer. New York Times had also reported on Wednesday that Apple was in talks with Lit Motors of San Francisco to develop an electric motorbike.