autoevolution

UPDATE: Apple Reportedly Interested In Buying McLaren Technology Group

Apple, the Cupertino-based behemoth that posted $234 billion in revenue in the fiscal year 2015, is said to be interested in acquiring McLaren. But does this mean that the 570S will lose its auxiliary input jack just like the iPhone did with the 7 lineup?
McLaren P1 LM with Apple badge 16 photos
2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept2012 McLaren P1 Concept
I’m afraid that question will be answered in due time. One thing is certain, though. Apple sits on a mountain of cash, hard-earned bucks the company is willing to invest in other domains related to its interests. As reported by Financial Times, the £1.5 billion ($1.94 billion) deal is also beneficial for McLaren, which hasn’t done great in Formula 1 since Honda returned as a constructor. Also, the vehicle-making arm of the group has posted a £15.4 million ($20 million) pre-tax loss as of May 2016, which isn’t good at all.

Due to the fact it encompasses McLaren Racing, McLaren Automotive, and McLaren Applied Technologies, the McLaren Technology Group is one way Apple can breathe new life into its Apple Car project. As of late, the so-called Project Titan has lost a lot of brain- and manpower, talented people who have left for reasons that were not made public to the media.

Financial Times doesn’t detail too many aspects on the potential deal, but the takeover of McLaren represents a strategic move, a big investment that could pay dividend in the future for Apple and its self-driving car venture. According to the cited report (subscription required), three different people have told the publication that negotiations started several months ago.

I’m not an Apple fan and I couldn’t care less about what Tim Cook wants to do with his company's money. But then again, it would be blissful to see McLaren get a cash infusion from the American multinational technology company for a very simple reason: to complete the Track22 business plan.

In McLaren jargon, Track22 is the plan in which the British manufacturer details what it intends to do until 2022. The most exciting part of Track22 is a quote from Mike Flewitt, the chief executive officer of McLaren: "Our engineers have even started work on a one-off prototype to evaluate the possible benefits of a fully-electric powertrain in an Ultimate Series car.”

UPDATE:

"There's no takeover, no strategic investment,"
Business Insider was told by a McLaren spokesperson. "It's completely untrue."


 
 
 
 
 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories