Apple talks to buy a supercar maker McLaren read more at here www.spinonews.com/index.php/item/967-apple-talks-to-buy-a-supercar-maker-mclaren

Apple has been linked with a shock £1.5bn deal to buy McLaren Technology Group, the Formula One team owner and supercar maker.

A deal between Apple and the British company would dramatically shake up the technology and automotive industries.

The California-based company’s interest in McLaren Technology Group highlights its ambition to develop technology that could be use in an electric and driverless car.

According to the Financial Times, Apple has approached McLaren about a takeover but could also make a strategic investment in the company.

However, McLaren said it was not in talks with Apple about a deal. “We can confirm that McLaren is not in discussion with Apple in respect of any potential investment.”

McLaren builds supercars such as the P1, which costs £866,000 and includes ground-breaking technology and also developing a range of technologies for use in healthcare, energy and transport.

Ron Dennis, chief executive, has expanded the company dramatically from its origins in Formula One, where it is one of the most successful teams in the history of the sport despite struggling in recent seasons. 

McLaren is controlled by Ron Dennis and the Bahrain sovereign wealth fund. Dennis, who ran the Formula One team before expanding the business into other areas, would be in line for a multimillion-pound windfall if a deal with Apple goes through.

McLaren Automotive produced 1,654 vehicles in 2015, generating revenues of £450m ($583m, €523m). The current range is priced from £140,000 to £200,000, but recent flagships have sold for over £1m.

If Apple were to buy the company, it would be its largest acquisition since the takeover of Beats Audio for $3bn in 2014.

Apple is understood to have been developing a driverless car in a secretive project codenamed Project Titan. However, a number of workers have left the initiative in recent months, leading to speculation that Apple is struggling with its design or director.