Apple in talks with luxury carmaker McLaren: iPhone maker approaches British supercar group about automotive tie-up
Apple has approached McLaren Technology Group, the British supercar engineer and Formula One team owner, about a potential acquisition, in the clearest sign yet that the iPhone maker is seeking to transform the automotive industry.
The California technology group, which has been working on a self-driving electric vehicle for more than two years, is considering a full takeover of McLaren or a strategic investment, according to three people briefed on the negotiations who said talks started several months ago.
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. Apple and McLaren declined to comment.
The lossmaking automotive group was likely to be valued at between £1bn and £1.5bn, the people said, adding that it was not clear a deal would be done.
That would make it Apple’s biggest acquisition since the $3bn purchase of Beats Electronics, the audio group founded by Dr Dre and Jimmy Iovine, in 2014.
Earlier this year, Apple invested $1bn in Didi Chuxing, the Chinese ride-hailing company. That deal was Apple’s largest equity investment to date, as chief executive Tim Cook gradually breaks with the Silicon Valley company’s longstanding aversion to large deals.
McLaren produces luxury sports cars that can cost as much as $1m apiece and owns an advanced technologies group, as well as the eponymous Formula One racing team. The owners of McLaren Technology control 80 per cent of McLaren Automotive. It produced 1,654 vehicles last year, generating revenues of £450m, and has pledged to invest £1bn in the next six years on research and development.
https://www.ft.com/content/523422ba-7ffd-11e6-8e50-8ec15fb462f4
Regarding possible Apple-McLaren talks, this from Wiki
“Electronics[edit]
McLaren Electronic Systems is a brand of electronic systems for racing cars created and manufactured by McLaren Applied Technologies. The company has won multiple Queen’s Awards for Enterprise for innovation and international trade.[5] McLaren have supplied the single electronic control unit used in all Formula One cars since 2008,[6] and also supply software, sensors and other components to Formula One teams. MES also supply the powertrain control system used in McLaren’s Formula One race cars.
In addition to Formula One, McLaren also provide the engine control units used in the NASCAR Sprint Cup and IndyCar Series. The two ECU’s share a common base,[7] and McLaren have held the contract for both series since 2012. McLaren Electronic Systems produces the electric motor, transmission and electronics used in the Spark-Renault SRT 01E, the car used in the inaugural Formula E season.[8]”
Seems to me McLaren is a wise company for Apple to acquire, or combine with.
Increasingly vehicles are high technology moving machines. If gasoline, diesel, hybrid, or electric—they have fast moving electronics technology at the center.
Looks like McLaren is a worthy leader, with ECU units for F1 and other series.
thx for posting, i saw that earlier, but... McL says not so
McLaren says it is not in discussions with Apple about investment
A spokesman for luxury carmaker McLaren told CNBC that it “is not in discussion with Apple in respect of any potential investment.”
Earlier on Wednesday, the Financial Times reported that the tech giant had approached McLaren about a potential acquisition. The New York Times, citing two sources familiar with the situation, also reported that the two are discussing a potential investment.
Apple declined to comment to CNBC on the report that it is in talks to buy McLaren.
Apple is also discussing a potential acquisition with electric motorcycle company Lit Motors, according to The New York Times. Both Apple and Lit Motors declined to comment to the newspaper.
$3bn for Beats Electronics and McLaren would be valued between $1.3 and $2 billion................. really?