The tech giant is said to have approached the car firm with view to a full takeover
Updated September 21, 17:50: McLaren has denied the claims, confirming it “is not in discussion with Apple in respect of any potential investment.”
An exclusive report by The Financial Times has claimed Apple is in talks to acquire Formula 1 team owner McLaren Technology Group.
Rumours around a potential F1 acquisition surfaced in July and the claims suggest the tech giant has approached the car firm with a view to a full takeover.
The FT quotes “three people briefed on the negotiations” and adds that talks started “several months ago.” The full details of the FT report can be found here.
Apple, traditionally, gave no comment when approached and now McLaren has denied the claims, telling The Verge, the firm “is not in discussion with Apple in respect of any potential investment.”
Reports of Apple’s car development have been floating around for the past two years. In September, a report by the Wall Street Journal suggested the car could be released by 2019 and this link to McLaren seemingly boosts these claims.
Apple’s car program, dubbed Project Titan, is said to be responsible for the design and development of the car. In recent months, Apple has also hired driverless car experts and engineers from Tesla and other car firms.