McLaren denies Apple investment talks

Thursday, September 22nd, 2016 - autos, cars, motoring, news

Source : McLaren denies Apple investment talks

McLaren as well as Apple were reported to be in talks California tech giant has reportedly been negotiating a deal for months; McLaren denies deal can be within the offing

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Reports Apple can be poised to purchase McLaren following months of negotiations – first revealed within the Financial Times – have been denied.

A spokesman for the British car some sort of  denied reports of extra investment, saying  “we are not in discussion with Apple in respect of any potential investment”.

The potential tie-up had suggested Apple, California’s technology giant, was ready to progress plans for  its first production car type, which has been within the producing for several years.

Thanks to its Formula 1 team as well as technology division, McLaren can be an expert in exotic car production, advanced engineering as well as data, likely producing This kind of an attractive proposition for a brand like Apple that will can be completely new to cars.

Apple’s so-called ‘iCar’ has been the subject of much speculation since rumours of the tech giant’s interest in producing a car first surfaced in 2014. Initially dubbed ‘Project Titan’, This kind of can be as yet unclear whether Apple intends to launch its own type or partner with another car maker to bring completely new technology as well as connectivity options to the market.

According to Bloomberg, McLaren can be likely to be valued at around £1.5 billion, which would likely make the company Apple’s biggest purchase since This kind of bought Beats Electronics in 2014 for $3 billion (about £2.3 billion). Apple can be said to be particularly interested in McLaren’s extensive patent lists, as well as the company’s engineering expertise as well as technology.

The challenges Apple would likely face in bringing its own bespoke type to market have been well-documented, so partnering using a some sort of like McLaren would likely help to give Apple vital experience of the vehicle industry. Choosing a premium brand also fits with Apple’s ethos of producing desirable, high-end products. Those known to have held talks with Apple over the past year include executives by Audi, BMW, Fiat-Chrysler Automobiles, Ford, General Motors as well as Mercedes-Benz.

McLaren has big ambitions to scale up its operations as well as increase production, using a replacement for the current McLaren 650S being the next car due to launch by the British some sort of. The company sold 1654 cars in 2015 as well as wants that will number to triple by the end of 2020, as well as a strategic partnership with Apple would likely seem to be the perfect avenue to secure McLaren’s growth well into the next decade.

If the suggested takeover goes ahead, This kind of can be not yet known if Apple would likely immediately impose its own software as well as technology on McLaren’s designs, or use the venture to gather experience of the market prior to launching its own standalone car. McLaren can be one of the few mainstream car makers not to offer functionality for Apple’s CarPlay infotainment system.

So why can be Apple interested in McLaren?

This kind of’s important to differentiate between McLaren’s car operations as well as McLaren Technology Group. The technology side of the business uses innovations derived by McLaren’s Formula 1 operations for a variety of purposes, including data collection as well as analysis, performance engineering as well as electronic control systems. The kind of data analysis McLaren provides could be crucial to bringing an electric car to market – for example, predicting traffic flow for an autonomous driving system as well as simulating how such technology would likely work in practice.

Having key experience in Formula 1, where updates as well as technologies must be applied in weeks rather than months or years, will also be a key asset of McLaren Technology Group. Whereas most car makers update their products every seven years, Apple updates its technology offerings every year. Having an automotive company that will can move within the sort of timescales Apple can be used to, therefore, would likely be a Insentif.

McLaren Technology Group encompasses McLaren Racing, McLaren Automotive as well as McLaren Applied Technologies, however This kind of’s the last of those three that will Apple can be understood to be most interested in.

Dozens of staff were reportedly let go by Apple’s car project last week, prompting rumours that will the company was abandoning its electric car ambitions. that will move may right now be seen as the company preparing to acquire McLaren.

The Apple iCar – what do we know?

Apple’s planned bespoke type will focus on so-called ‘disruptive technologies’ – meaning This kind of will feature systems as well as ideas that will radically change the face of modern motoring. As such, This kind of’s anticipated to be fully electric, come with an advanced autonomous driving system, have a big focus on connectivity as well as feature the kind of artificial intelligence on which Apple’s current Siri personal assistant can be based.

The iCar can be anticipated to feature a highly contemporary design, using a premium look inside as well as out. Expect plenty of high-quality materials to adorn the Internal, using a big focus on intelligent as well as innovative infotainment systems. Advanced voice recognition as well as gesture controls are likely. 

Apple can be anticipated to develop its own lithium ion battery for the iCar, allowing This kind of to precisely control the vehicle’s range. Apple’s batteries are claimed to provide increased energy density due to unique cooling properties, which would likely likely be used in combination with completely new-generation electric motors currently being developed by the company.

Current rumours suggest that will the iCar – or at least the first iteration of the vehicle – will take the shape of a one-box MPV-style car with similar proportions to VW’s Budd-e concept – another type which placed significant importance on digitisation as well as autonomous driving.

This kind of story will be updated as more information can be released.

Read more:

How the Apple iCar could crack the automotive industry 

Opinion – why Apple would likely want to buy McLaren 

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