Rumor: Apple looking into acquisition, strategic investment of McLaren for car project

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Date: Wednesday, September 21st, 2016, 11:56
Category: Apple, Hardware, Rumor


If you’ve ever drooled a bit over a parked McLaren on the street, then you’ve got something in common with Apple.

The current rumor has it that Apple has approached British supercar-maker McLaren to discuss an acquisition or a strategic investment in the firm. The talks are said to have been in progress for several months.

McLaren is best known for its Formula One racing team and also has a fast-growing road cars division that started up less than a year ago. The company has also received accolades for its million-dollar P1 hybrid hypercar and its line of supercars. McLaren also has a large consulting division and a technologies group that acts as a parts supplier to other carmakers and race teams.

Back in July, Apple reportedly returned longtime hardware executive Bob Mansfield back to the fold to run its car project. Rumors have circled for years that Apple was working on both an electric car and autonomous software.

It’s been said that McLaren would be valued between $1.3 and $2 billion, but it’s “not clear” that the deal will get done. Apple declined to comment, while McLaren said in a statement that the company “is not in discussion with Apple in respect of any potential investment.”

Stay tuned for additional details as they become available.

Via The Verge and Financial Times

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