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Posted on September 22, 2016 by staff

McLaren denies Apple takeover approach

McLaren denies Apple takeover approach

McLaren's 570s
McLaren’s 570s

British car maker McLaren has denied that it is in talks with Apple over a strategic investment or full-blown takeover.

A report in the Financial Times suggested that the American halo brand was considering a £1.2billion acquisition of the manufacturer of high-performance and Formula One cars.

“We can confirm that McLaren is not in discussion with Apple in respect of any potential investment,” read a McLaren statement.

However it then added: “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.”

The FT’s report said that its source wasn’t sure if Apple was still interested after a “change of strategy” in its car plans.

Apple has long been rumoured to be working on an electric vehicle containing driverless technology – ‘Project Titan’ – with several hires and fires in that field.

More recently it has been reported that Apple is considering working exclusively on the software for autonomous vehicles – which are expensive to manufacture – rather than building its own.

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Linking up with McLaren seems a strange move, as its road supercars range from £100,000 to £1 million in price.

Tesla’s high-end cars approach the cost of the cheapest McLaren, but CEO Elon Musk is committed to manufacturing lower-cost vehicles for the ‘masses’.

A link-up with McLaren would see Apple either own or potentially have access to McLaren Applied Technologies, which feeds a multitude of industries including healthcare, pharmaceuticals, energy, transportation and consumer brands.

Apple took a risk recently when it ditched the traditional headphone jack and bundled wireless ‘Airpods’ with the new iPhone 7.