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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.
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.
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