US technology giant Apple has approached the UK-based McLaren Technology Group about a potential takeover, according to a report in the Financial Times.
The story explains that Apple is either contemplating a full acquisition or a strategic investment, having looked to develop its own self-driving electric vehicle for the past couple of years.
The report adds that the California-based firm is enticed by McLaren’s technology, engineering proficiency, and wide range of patents.
The business newspaper expects the Ron Dennis-led British conglomerate, which includes the McLaren F1 Team, to be valued between £1bn and £1.5bn.
Apple’s interest in McLaren comes a pair of weeks after US media company Liberty Media decided to acquire Delta Topco - Formula One's parent company - in a deal worth $8bn (£6bn).
Scene at the 2016 Singapore Grand Prix
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2016 Singapore Grand Prix - Driver ratings
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