British supercar maker McLaren has denied a report in the Financial Times that it was in talks with Apple about a possible acquisition by the US tech giant.
"We can confirm that McLaren is not in discussion with Apple in respect of any potential investment," a spokesman for the company said in a statement to AFP.
The Financial Times, citing sources, reported that Apple approached the British F1 team owner McLaren Technology Group for a strategic investment or a potential buyout.
The loss-making automotive group could be valued at between £1 billion and £1.5 billion (€1.17 billion to €1.75 billion), the newspaper reported.
A deal with McLaren, which also produces high performance sports cars, would give Apple key automotive technology amid reports that the iPhone maker is working on a self-driving car.
Apple has hired dozens of automotive experts over the past year and is exploring making charging stations for electric cars.
Apple also invested $1 billion in Chinese ride-hailing service Didi Chuxing earlier this year.
