Apple In Talks To Buy Supercar Maker McLaren
zerohedge.com / by Tyler Durden / Sep 21, 2016 10:48 AM
Apple’s ambitions to take on Tesla in the electric car space, Uber in the self-driving space, and in general, to pivot into the auto industry have not been exactly a secret over the past year, but few had any idea how Tim Cook would go about doing this. Today, the FT reveals that the world’s most valuable company plans to transform the auto industry by purchasing British supercar maker and Formula One team owner, McLaren technology.
According to the FT, Apple 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, citing “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.
The FT notes that the lossmaking automotive group was likely to be “valued at between £1bn and £1.5bn, the people said, adding that it was not clear that a deal would be done.”
That would make it Apple’s biggest acquisition since the $3bn purchase of Beats Electronics, the audio group founded by Dr Dre and Jimmy Iovine, in 2014