McLaren Technology Group denies takeover talks with Apple

Time 12:31 pm, September 22, 2016

THE McLaren Technology Group has quashed rumours that it may be bought by Apple. 

As reported by Car Dealer, a Financial Times article yesterday claimed that Apple was engaged in talks to take over McLaren, which had been valued at between £1bn and £1.5bn.

It was widely believed that this would see the American multi-national’s bid to produce an autonomous electric car take a major step forward, following speculation that it had abandoned the project after laying off dozens of staff members who were part of it.

However, a spokesman for Surrey-based conglomerate McLaren has since stated: ‘We can confirm that McLaren is not in discussion with Apple in respect of any potential investment.’

Elsewhere, the BBC has said that it understood McLaren had been having talks with Apple about the latter’s mooted car, although they stalled.

Apple shareholders had previously been said to have wanted the business to acquire Tesla.

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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