Apple in Talks to Acquire Luxury Carmaker and Formula One Team McLaren
Apple has approached British luxury carmaker McLaren Automotive about a potential acquisition, likely to be valued at between $1.3 billion and $1.9 billion, according to Financial Times.
The California technology group, which has been working on a self-driving electric vehicle for more than two years, is considering a full takeover of McLaren or a strategic investment, according to three people briefed on the negotiations who said talks started several months ago.
A tie-up with McLaren, whose expertise ranges from automotive engineering and on-board computer systems to novel chassis materials such as carbon fibre and aluminium, could accelerate Apple’s secretive automotive project. Apple and McLaren declined to comment.
McLaren, headquartered in Woking, Surrey, manufactures high-performance sports cars, including the P1 and F1. The carmaker also has a British Formula One team competing as McLaren Honda.
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