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
Quotes of the week - 2016 Singapore Grand Prix
2016 Singapore Grand Prix - Driver ratings
REPORT: Rosberg takes title lead after Singapore thriller
Keep up to date with all the F1 news via Facebook and Twitter
Honda is shaking up the leadership of its Formula 1 power unit programme as the…
On this day in 2008, Formula 1 saw a spring chicken named Sebastian Vettel become…
Charles Leclerc left the Madring with no regrets about Ferrari's strategic gamble in the Spanish…
Lando Norris lost out on a victory at the Madring thanks to a perfectly miserable…
For Carlos Sainz, the Madring's first Formula 1 weekend was supposed to be a homecoming…
Cadillac Sergio Perez, DNF “Our race was going really strong up until the moment we…