Apple is reportedly in talks with British luxury car manufacturer, Mclaren over a strategic investment or potential acquisition, according to UK media reports.
Apple and McLaren Technology Group have been in talks for several months over an undisclosed deal that could be worth around £1 billion.
The technology giant remains quiet about Apple’s automotive ambitions, although CEO Tim Cook has recent told the car industry to expect “massive change”.
Micheal Harley, senior analyst for Kelley Blue Book, said: “Apple’s potential acquisition of McLaren isn’t nearly as far-fetched as it initially sounds. Apple has been rumored, but never officially confirmed, to be working on an electric car. McLaren is well-known as a manufacturer of high-performance sports and racing cars, but its true expertise is in engineering lightweight materials such as carbon fibre and aluminium, both of which are key building blocks to designing an innovative lightweight vehicle.”
It is said that acquiring McLaren, which is currently valued at under $2 billion, would barley scratch the surface of Apple’s estimated $55 billion cash reserve.
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