The rumors are rife that Apple is on its final stages of acquiring McLaren completely while the car manufacturer denies them.
For months, it was speculated that Apple is in talks with McLaren to acquire the company and produce automobiles under their own brand. The negotiations were said to have come to an end. Almost every top media page has confirmed that the deal is sealed. However, a new update from McLaren confirmed that there are no such talks with the tech giant.
A spokesperson from McLaren said, “We are not discussing any potential investment with Apple at the moment. These rumors confirmed that Apple is keen on building its own car. Google has been testing its autonomous cars for many years now but based on products that the Cupertino company releases, they may go for a consumer version of their car rather than a prototype that might take years to go into production.
In order to make this a possibility, they need to associate themselves with an automobile manufacturer to provide the much needed technology. Apple scouted multiple tie-ups including ones with BMW, Ford and Nissan in the past. While they did manage to integrate Car Play in majority of the cars, the partnership didn’t lead to a dedicated car of their own.
While the brand enjoys a superiority in smartphones and laptops, the scope for expanding their horizon into the automobile industry is limited. The obvious route is to acquire a top seller in the industry so as to make their business plans a reality. Apple may have had talks with McLaren to buy the company outright but it looks like a deal is not signed yet.
In another scenario, they may choose to sign a longterm partnership with McLaren to help them make Apple Cars. With an extremely strong technical division and a presence in the Formula One division, the brand is known for making some of the best and fast sports cars in the market.
Dubbed as Project Titan, Apple has already established their car wing and even managed to hire many top executives from Tesla to incorporate electric technology in their iCar. McLaren’s valued estimate is at about 1.5 billion UK pounds. Apple brought Beats music for $3 billion two years ago and if they manage to acquire McLaren at the said price, it could be their biggest acquisition ever. Either way, an iCar is definitely on the cards!