Apple might buy supercar-maker McLaren

In a move that is set to rock the technology and automotive worlds, the Financial Times is reporting that Apple is in discussion with British car maker McLaren about a potential acquisition.

Talks between the two companies have been taking place for several months according to the report with Apple said to be considering a full takeover of McLaren Technology Group or a strategic investment. The report cites three unnamed sources briefed on the negotiations.

Apple has widely been rumored to be developing its own secretive car project for the last two years, under the Project Titan name, though recent reports had suggested Apple was stepping back from developing its own car to focus more on developing in-car systems for other manufacturers.

McLaren develops super cars and runs the Formula 1 racing team of the same name and is said to be valued at between $1.2 billion and $2 billion, which would make it Apple's second biggest ever acquisition behind the $3 billion purchase of Beats.

Earlier this year one report from a longtime and well-respected Formula One reporter Joe Saward suggested that Formula One was currently undergoing an "intensive due diligence" process and that Apple was one possible bidder. That was widely debunked at the time, but this latest report suggests Apple is seeking to make some inroads into the Formula 1 business.

From Apple's point of view the acquisition would almost certainly be focused on acquiring the engineering expertise at McLaren as well as a trove of patents related to the automotive industry — and not for any quick financial gain, given the British company made a loss of $28.5 million in 2014, according to its most recently published accounts.

Apple has never publicly acknowledged it automotive plans, and in recent months a number of high profile employees linked to Project Titan have departed, which led to suggestions that Apple had binned its original plan to control both the hardware and software of its new car, something it does so successfully with its laptops, smartphones and tablets.

The sources cited in the FT report stress that a deal is far from certain and that the recent apparent shift in strategy from Apple could scupper any deal.