Saturday, November 23, 2024
Archived Post

FT: Apple in talks to buy McLaren; McLaren: no, it’s not

The Financial Times reports via its subscription-only website that Apple has approached McLaren Technology Group, the British supercar engineer and Formula One team owner, about a potential acquisition, “in the clearest sign yet that the iPhone maker is seeking to transform the automotive industry.” However, McLaren has issued a statement in response, rejecting the report and denying any discussions with Apple about a potential investment.

The article — quoting “three people briefed on the negotiations who said talks started several months ago” — says the Cupertino, California-based company, 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. Apple recently re-organized their Project Titan car program.

McLaren, which encompasses McLaren Racing, McLaren Automotive and McLaren Applied Technologies, is pegged to be worth between $1.3 billion and $1.95 billion. It’s the third largest conglomerate (including McLaren Automotive) in the UK by revenue.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.