British automotive manufacturer and Formula One team owner McLaren has denied reports that tech giant Apple is set to acquire it.
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The company said there were no discussions over a sale or investment from Apple, Telegraph reported on Thursday.
"We can confirm that McLaren is not in discussion with Apple in respect of any potential investment," a spokesperson was quoted as saying.
Earlier media reports said that the iPhone maker was considering to buy McLaren for 1 billion pounds.
The acquisition of McLaren can accelerate Apple's automotive project. McLaren makes luxury super cars and has an advanced technology unit that develops cutting-edge electronics.
Experts have even said Apple may be interested in buying US electric car maker Tesla.
The Cupertino-based company recently acquired audio group Beats Electronics for $3 billion.
Apple has also invested $1 billion in the Chinese ride-hailing company Didi Chuxing.