Apple in talks to buy McLaren, according to reports
US tech giant Apple is thought to have entered into negotiations for the purchase of luxury British carmaker McLaren - according to a report from the Financial Times.
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The report will stoke speculation that Tim Cook's company is headed in the direction of the car industry in the near future.
McLaren makes luxury vehicles and has been a long-extablished provider of cars to the Formula One motor racing championship.
The Financial Times report said that the transaction value would likely be in the region of between £1bn and £1.5bn.
Apple is also open to the prospect of a strategic investment, rather than an acquisition.
Cook and his staff have never formally acknowledged their intentions with regard to the auto industry, but it is widely believed that the company has been conducting research into electric vehicles and self-driving technology.
McLaren has been struggling financially, according to the report. It lost £22.6m on revenue of £265m in 2014.