Tech giant Apple rumoured to take over McLaren brand
Reports overnight suggested technology giant Apple had moved to purchase part or all of McLaren, but the British luxury sports car maker has moved quickly to deny any such talks have occurred.
Three anonymous sources with inside knowledge have told The Financial Times that Apple has approached McLaren Technology, which owns around 80 per cent of McLaren Automotive, about a possible takeover of, or a strategic investment in, the British automaker.
Any potential deal between the two companies will reportedly value McLaren at between one and 1.5 billion pounds ($1.7 and $2.6 billion).
The report spread like wildfire across the internet, but a McLaren spokesman has since told Reuters: “We can confirm that McLaren is not in discussion with Apple in respect of any potential investment.
“As you would expect, the nature of our brand means we regularly have confidential conversations with a wide range of parties, but we keep them confidential.”
According to The Financial Times, McLaren made 1654 cars in 2015 and had revenues of 450 million pounds ($780 million). In 2014, McLaren Technology lost 22.6 million pounds ($39.2 million) on turnover of 265 million pounds ($459 million).
The newspaper understands that Apple’s interest in McLaren centres around the car maker’s patent library, technology, and engineering skills.
It’s unclear if the Silicon Valley giant is still interested in McLaren, with reports surfacing last week that the company had scaled back its top secret ‘Titan’ autonomous EV project, with large numbers of staff being let go.
- Derek Fung, CarAdvice.com.au