Apple in talks to buy McLaren, looking to manufacturer automated cars?

Apple is reportedly planning to takeover car manufacturer McLaren in what is being touted as the tech company's entry into the automobile industry.

According to a report in the Financial Times, Apple has been working on a self-driving electric vehicle for more than two years, is considering a full takeover of McLaren.

The report goes on to add:

A tie-up with McLaren, whose expertise ranges from automotive engineering and on-board computer systems to novel chassis materials such as carbon fibre and aluminium, could accelerate Apple’s secretive automotive project. Apple’s interest in the Woking-based company centres on its technology, engineering prowess and patent portfolio, said people briefed on the talks. 

The report also states that talks began a few months ago but quotes a statement issued by Mclaren, which denied discussions being held. 

This follows reports by Bloomberg, that Apple has hired the former head of BlackBerry Ltd.’s automotive software division, placing 'increased emphasis' on developing self-driving technology.

The report had stated that Apple had hundreds of engineers working on car design and has been targeting a release as soon as 2020.

Reporting on the latest developments, Wired stated:

The biggest advantage for Apple might be McLaren Applied Technologies, the company McLaren spun off in 2004 to apply F1 know-how to other industries. These folks reduced flight delays at Heathrow, improved health monitoring for stroke victims, and even made a toothpaste factory more efficient. So it’s easy to see McLaren turning all its expertise to Apple’s problem—deploying software into a car.