According to a source quoted by the NY Times, Apple reportedly told its employees that the layoffs were part of a reset of the project: instead of seeking to design and produce a auto, the company would focus on technologies that would allow vehicles to drive autonomously, without a driver, writes the American newspaper.
The two firms have been talking for several months about plans to either have Apple make a strategic investment in the McLaren Technology Group or buy it outright, the article said. Its Applied Technologies Group supplies electronics to everyone from Formula One to NASCAR, and it has done extensive work on data center optimization.
A spokesman for Apple and representatives of McLaren didn't immediately respond to requests for comment.
The potential deal would see the United States technology giant fork out up to £1.5 billion for the whole firm, or make an investment for part of it, according to the Financial Times.
Bombing Suspect Drew FBI's Attention In 2014 After Domestic Dispute
Information for this article was contributed by Tom Hays, Michael Balsamo, Michael Catalini, Dake Kang, Josh Cornfield, Alicia A. Surveillance video from the bomb scenes and fingerprints on unexploded devices also point to Rahami, according to the documents.
A major acquisition like this wouldn't come cheap for Apple: McLaren Automotive produced 1,654 vehicles previous year which generated $584 million in revenue, Mashable writes, and the FT's sources imagines that McLaren would be valued somewhere between $1.3 and $1.96 billion. While that's a substantal chunk of change for anyone without their picture in the Forbes 400, it's comparative peanuts to the Cupertino-based Apple, which has more than $200 billion lying under the proverbial mattress. Buy a fancy vehicle. The New York Times reported on September 9 that the project was undergoing a reboot, with a shift in focus from building complete cars to developing only the software that would enable self-driving capabilities.
Following the report that it had approached McLaren, Apple said it "does not comment on rumours or speculation". McLaren makes some of the best high-performance cars and runs a distinguished Formula One team so it has a lot going for it. The carmaker produced only 1,654 vehicles past year, many costing as much as $1 million apiece.
Sprained thumb could leave struggling Bears without Cutler
Brian Hoyer stepped in and did a pretty good job. "I don't know if he was left in any longer than anyone could've guessed". Fox said the thumb didnt appear to affect Cutler in practice last week and he was a full participant.
Josh Norman Flips Out After NFL Informs Him of Postgame Drug Test
McAdoo previewed the Beckham-Norman showdown thusly: "You have two outstanding competitors at the top of their game". It's the game we play, we're able to take care of our families and put on for our last names that are on the jersey.