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.