Apple is considering buying carmaker McLaren, report says

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Apple is considering buying British automotive manufacturer McLaren Technology Group, and is currently in talks with the company, according to a new report from Matthew Garrahan and Tim Bradshaw at the Financial Times.

Apple is also bouncing around the idea of a strategic investment as another option, though FT's sources say an acquisition is also being discussed.

The price for McLaren Technology Group? Between £1bn and £1.5bn, according to the report.

McLaren is a supercar maker, and it runs a British Formula 1 racing team.

Earlier this year, F1 blogger Joe Saward floated the possibility that Apple was laying the groundwork to buy the entire racing series.

F1 was eventually sold to Liberty Media for $8.5 billion, although the deal is not final.

RELATED: McLaren vehicles

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TURIN, ITALY - 2016/06/08: McLaren 570GT during the Parco Valentino car show, They host cars from worldwide manufacturers. (Photo by Marco Destefanis/Pacific Press/LightRocket via Getty Images)
McLaren Honda F1 Team's Spanish driver Fernando Alonso steers his car at the Baku City Circuit, on June 17, 2016 in Baku, during the second practice session for the European Formula One Grand Prix. / AFP / KIRILL KUDRYAVTSEV (Photo credit should read KIRILL KUDRYAVTSEV/AFP/Getty Images)
LONG BEACH, CA - APRIL 17: Alvaro Parente, of Portugal drives the #9 McLaren 650S GT3 Pirelli World Challenge car on the track at Toyota Grand Prix of Long Beach on April 17, 2016 in Long Beach, California. (Photo by Brian Cleary/Getty Images)
BAKU, AZERBAIJAN - MARCH 08: McLaren Honda's Spanish driver Fernando Alonso poses in a sport car before a show ride as he meets with Formula 1 fans in downtown Baku on March 8, 2016, ahead of a Formula One Grand Prix Baku race. (Photo by Resul Rehimov/Anadolu Agency/Getty Images)
BRUSSELS, BELGIUM - JANUARY 12: McLaren 675LT model car on display during the Brussels Auto Show at Expo Center in Brussels, Belgium on 12, 2016. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
A 1970 McLaren M8D race car on display at the newly re-designed Petersen Automotive Museum in Los Angeles ,California. (Photo by Markus Cuff/Corbis via Getty Images)
The McLaren 675LT on display at the 86th Geneva International Motorshow at Palexpo in Switzerland, March 2, 2016. (Photo by Gerlach Delissen/Corbis via Getty Images)
The McLaren 570GT on display at the 86th Geneva International Motorshow at Palexpo in Switzerland, March 2, 2016. (Photo by Gerlach Delissen/Corbis via Getty Images)
TURIN, ITALY - 2015/06/11: A McLaren 570S. Parco Valentino car show hosted 93 cars by many automobile manufacturers and car designers inside Valentino Park. (Photo by Marco Destefanis/Pacific Press/LightRocket via Getty Images)
NEW YORK, NY - JUNE 03: General view of the 1998 McLaren F1 'LM-Specification' supercar during McLaren's F1 New York media preview at Sotheby's on June 3, 2015 in New York City. (Photo by Noam Galai/WireImage)
NEW YORK, NY - JUNE 03: General view of the 1998 McLaren F1 'LM-Specification' supercar during McLaren's F1 New York media preview at Sotheby's on June 3, 2015 in New York City. (Photo by Noam Galai/WireImage)
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McLaren, a British company, loses money, according to the Financial Times report. It lost £22.6 million on revenue of £265 million in 2014, the most recent figures that are publicly available.

Obviously, the news of talks between McLaren and Apple will renew speculation about what products and services the computer and iPhone company is planning in the automotive industry.

Apple famously has a car department, codenamed "Project Titan," but the company has never confirmed that it is in fact working on an electric car or self-driving software.

Apple has recently focused its attention on self-driving car software, instead of the manufacturing processes that would go into making its own car, according to a slew of recent reports.

But Apple's core corporate strengths are design, supply chain management, and manufacturing processes, all of which lend strength to the argument that if Apple were to do a car, it would design both the hardware and software, as it does for the iPhone.

An investment or purchase in McLaren would give Apple an injection of racing technology, as well as a team of automotive-focused engineers. McLaren also owns several valuable patents, especially for high-tech materials such as carbon fiber and aluminum. It does manufacturing research and studies materials in its McLaren Applied Technologies group.

McLaren Technologies Group also does substantial work with sensors and data in a department called McLaren Electronic Systems. For example, the company compares real-time data collected during races with historical data, which means that it has solved several problems dealing with the flood of data a connected car generates.

One of the challenges Apple's car project faces is dealing and analyzing the flood of data generated by its sensor-laden test vehicles currently driving around California.

Apple has invested in a company in the transportation world before. The company invested $1 billion earlier this year in Didi Chuxing. "From a Didi point of view, we see that as, one, a great financial investment. Two, we think that there are some strategic things that the companies can do together over time," Cook said.

The 11 greatest moments Apple has had on stage:

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The 11 greatest moments Apple's ever had on stage
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The 11 greatest moments Apple's ever had on stage

1. When Jobs returned to Apple in 1997, the crowd erupted with applause and cheer as he walked back on stage for the first time.

(Photo via YouTube)

2. The introduction of the first iMac was a milestone for Apple. It was the first computer that seemed cool and not focused on the enterprise. The crowd ate it up.

(Photo via YouTube)

3. The crowd went nuts when Jobs demonstrated how WiFi works back in 1999.

(Photo via YouTube)

4. Jobs showed the world the iPod for the first time at an intimate event in 2001.

(Photo via YouTube)

5. Conference attendees went ballistic when apple unveiled the iPhone in 2007.

(Photo via YouTube)

6. He even prank called Starbucks on stage and ordered 4000 lattes to show how well phone calls worked on the iPhone.

(Photo via YouTube)

7. Apple debuted the iPad in 2010 at half the price most people expected.

(Photo via YouTube)

8. One of Jobs' most memorable "one more thing" announcements was the first Facetime demo in 2010.

(Photo via YouTube)

9. Jobs perfectly summed up the company's approach to mobile with a simple image of a street sign.

(Photo via YouTube)

10. Apple CEO Tim Cook used Jobs' famous "one more thing" line for the first time when he unveiled the Apple Watch.

(Photo via YouTube)

11. When Apple bought Beats Electronics for $3 billion last year, Dr. Dre and renowned record executive Jimmy Lovine were brought on as official Apple employees.

(Photo by Andy Kropa/Invision/AP, File)

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