McLaren refutes news of Audi buyout in official statement, terms report of sale ‘wholly inaccurate’- Technology News, Firstpost

tech2 News StaffNov 16, 2021 10:28:14 IST

Following a media report that claimed German carmaker Audi had bought British auto marque McLaren, the McLaren Group put out a statement refuting the news, clarifying that no sale has taken place and that the report is incorrect. On 15 November, British trade magazine Autocar UK cited a source it said was close to the dealing, claiming Audi had bought the McLaren Group outright in a bid to make a full-fledged entry into the world of Formula 1 racing. Shortly after the report was published, McLaren released a statement terming the news ‘wholly inaccurate’.

“The McLaren Group is aware of a news media report stating it has been sold to Audi. This is wholly inaccurate, and McLaren is seeking to have the story removed”, read the official statement.

While Autocar UK did modify its original story to include McLaren’s statement, its original tweet claiming Audi had bought the McLaren Group still remains live on Twitter, and has over 3,200 retweets and 5,300 likes at the time of this piece being filed.

While it rubbished the news of the Audi buyout, McLaren said it does have discussions and collaborations ongoing with ‘relevant partners and suppliers, including other carmakers’, but did not name any of them.

“There has been no change in the ownership structure of the McLaren Group”, the statement concluded.

In response to the developments, an Audi spokesperson told Reuters, “As part of our strategic considerations, we are constantly looking at various cooperation ideas.”

Recent rumours have suggested the McLaren Group had attracted interest from Audi as well as BMW, with the former keen to make an entry into the pinnacle of four-wheeled motor racing. Acquiring McLaren would have given Audi control of its second supercar brand alongside Lamborghini, and could have potentially resulted in technology transfer and powertrain sharing.

The Volkswagen Group is understood to be keen on making a return to F1, and is said to be pushing group brands Porsche and Audi to find a way into the championship.

McLaren has been dealing with financial pressures of late, despite a refinancing of up to 500 million pounds last year. Mike Flewitt – who had been CEO of McLaren Automotive for the last eight years – also quit his role in October.

McLaren is also understood to be gearing up for its India entry, having appointed Infinity Cars as its exclusive importer for our market earlier this year.