It was reported just a few hours ago that Apple and British supercar manufacturer McLaren have been in talks for a potential acquisition.
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With massive stockpiles of cash on hand and quarterly profits $7.8 billion reported in June, handing over $1.5 billion for McLaren would do little damage to Apple’s coffers. “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”, it said.
Apple is considering buying carmaker McLaren, according to a report in the Financial Times.
Apple’s interest in McLaren allegedly centres around the group’s technology, automotive engineering capabilities and portfolio of patents.
Tim Cook, the chief executive of Apple, has never publicly acknowledged the project. As a result, the Financial Times said it was unclear whether Apple would proceed with a deal for McLaren. Neither party has commented on the rumor. The company – its motto stating “We are creating the future of transportation, today” – is known for its C-1 vehicle, which looks like a cross between a motorcycle and Google’s self-driving auto prototype.
Apple has recently been working on self-driving electric cars and has recently outlined plans to transform the automotive industry in the same way it has revolutionised the smartphone market. If Apple acquires the company, that would make it the technology giant’s biggest acquisition, since the purchase of Beats Electronics, the audio group in 2014.
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Whether or not there’s any truth to the news, a strategic investment or acquisition of a smaller vehicle company would make plenty of sense for Apple, which has been moving forward with its own secretive self-driving-car division, code-named Project Titan, under the leadership of longtime exec Bob Mansfield.
