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Apple to buy stake in McLaren, acquire Lit Motors - report

2016-09-22 08:53:00| Telecompaper Headlines

(Telecompaper) Apple is seeking a stake in luxury carmaker McLaren and is in talks to buy Lit Motors, an electric motorbike startup, people with knowledge of the matter told Bloomberg. The company is expected to make a large investment in McLaren, which would bring brand strength, advanced engineering and a portfolio of patents to Apple's efforts to develop self-driving cars. Lit Motors also has several international self-driving patents, and BMW, Audi and a South Korean automaker are also interested in acquiring Lit, the report said. McLaren denied it was negotiating with Apple. Apple and Lit Motors declined to comment.

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