Apple Reportedly Seeking Stake in Automaker McLaren
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Apple is seeking to take a strategic stake in luxury carmaker McLaren Technology Group, according to people familiar with the situation.
The technology company is more likely to make a large investment than an outright acquisition, said one of the people who asked not to be identified because the matter is private. The Financial Times earlier reported that Apple was considering buying all of McLaren or taking a stake in the U.K.-based carmaker.
Eager for a new hit to replace the iPhone, Apple has hundreds of engineers working on car design and has been targeting a release as soon as 2020. While the company has been focusing more on self-driving software in recent months, it has never abandoned efforts to build its own vehicle or tie up with an established carmaker, according to people familiar with Apple’s thinking. With sports cars starting at almost $200,000, McLaren would bring brand strength, advanced engineering and a portfolio of patents to the equation.
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