It’s no secret that Apple wants to become a big player in the car market. To achieve that goal, the iPhone maker could be poised to purchase McLaren Technology Group, the British supercar engineer and Formula One team owner, according to The Financial Times.
According to a Wednesday report, negotiations between both sides started several months ago. If approved, the price tag could exceed US $2 billion.
A tie-up with McLaren, whose expertise ranges from automotive engineering and on-board computer systems to novel chassis materials such as carbon fibre and aluminium, could accelerate Apple’s secretive automotive project.- The Financial Times
McLaren, which is headquartered in Woking, Surrey, manufactures high-performance sports cars, including the P1 and F1 racing models. Some McLaren models cost as much as $1 million apiece. The company’s Formula One team, the most successful on the Grand Prix racing circuit, competes under the name McLaren Honda.
Apple’s car project, “Project Titan,” has long been rumored. It’s now headed by Bob Mansfield, the former vice president of Technologies at Apple.