Apple eyes British supercar maker McLaren: Report

By: | Published: September 21, 2016 9:22 PM

Apple Inc has approached British Formula One team owner McLaren Technology Group for a strategic investment or a potential buyout, the Financial Times reported, citing sources.

Apple has hired dozens of automotive experts over the past year and is exploring making charging stations for electric cars. (Reuters)Apple has hired dozens of automotive experts over the past year and is exploring making charging stations for electric cars. (Reuters)

Apple Inc has approached British Formula One team owner McLaren Technology Group for a strategic investment or a potential buyout, the Financial Times reported, citing sources.

The loss-making automotive group could be valued at between 1 billion pounds ($1.30 billion) and 1.5 billion pounds, the newspaper reported.

A deal with McLaren, which also produces high performance sports cars, could give Apple key automotive technology amid reports that the iPhone maker is working on a self-driving car.

Apple has hired dozens of automotive experts over the past year and is exploring making charging stations for electric cars.

Apple also invested $1 billion in Chinese ride-hailing service Didi Chuxing earlier this year.

Apple and McLaren could not be immediately reached for comment.

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