Apple has approached British Formula One team owner McLaren for a strategic investment or a potential buyout
(Editor's note: the link could be paywalled; alternate source
), the Financial Times reported, citing sources. The loss-making automotive group could be valued at around $1.4 billion. A deal with McLaren, which also makes high-performance sports cars, could give Apple key automotive technology amid reports that the company is working on a self-driving car. From the report:The California technology group, which has been working on a self-driving electric vehicle for more than two years, is considering a full takeover of McLaren or a strategic investment, according to three people briefed on the negotiations who said talks started several months ago. Update: 09/21 17:31 GMT
:The New York Times, citing two people familiar with the matter, is now reporting the same. The publication additional says that Apple has also held talks with Lit Motors, a San Francisco start-up that has developed an electric self-balancing motorcycle, about a potential acquisition.