American technology giant Apple is seeking to buy McLaren Technology, according to the Financial Times.
Apple has reportedly entered talks with the British carmaker, with a view to purchasing it for between £1bn and £1.5bn.
Apple has long been rumoured to be working towards creating cars, and a move to purchase McLaren may be the strongest indication of its plans yet.
McLaren Technology owns 80% of McLaren Automotive, and the deal would see Apple inherit the group’s technology and expertise.
McLaren produced 1,654 cars last year, according to the FT, and said it has allocated £1bn for research and development over the next six years.
Due to McLaren’s loss-making status, the deal is being explored as a strategic investment, according to sources.
The acquisition would mark Apple’s highest value acquisition in two years. Earlier this year, Apple invested $1bn in Chinese ride sharing company Didi Chuxing.
The move to buy McLaren is likely to add further to speculation that Apple plans to enter the motor industry.
Both companies decline to comment to the FT.
McLaren's finance is provided by JBR.