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Audi makes an offer to gain a foothold in the McLaren sports car: Report


Audi’s interest in McLaren first came to light late last year and the company had previously floated the idea of ​​acquiring McLaren as a way to get into the Formula One business.

Via : Automatic table HT
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Update on:
April 3, 2022, 04:53 ONLY

Audi logo image file
Audi logo image file

Audi has raised its offer for a foothold in the McLaren sports car brand to 650 million euros or 718 million euros from 450 million euros previously, according to a report by Germany’s Automobilwoche. The report says the automaker wants to buy a stake in McLaren’s Formula One unit, while also considering investing in the sports car maker itself at a later stage.

The two companies are considering signing a letter of intent on Monday, and Volkswagen’s supervisory board will discuss the matter later this month, the publication reported. The German carmaker’s interest in McLaren first came to light late last year and the company had previously floated the idea of ​​acquiring McLaren as a way to approach the Formula One business but McLaren has since thought the offer was too low at the time, Bloomberg said. reported.

(Also read | Ferrari introduces new red paint color inspired by its 2022 F1 car)

McLaren is also continuing to discuss with BMW car and signed a memorandum of understanding with the automaker on March 24 for cooperation in the development of an architecture for electric sports cars, Automobilwoche reported. It added that the agreement was not binding and could be rescinded by an agreement with Audi.

In a separate development, Volkswagen is also likely to green signal Porsche about entering Formula One. The company plans to cooperate Porsche brand with the Formula One team Red Bull. A Reuters report also claims that Volkswagen’s final decision on entering F1 will depend on whether the racing event follows through with its plan to switch to synthetic fuels by 2026 and about McLaren’s progress regarding the electrification of their vehicles.

The decision comes as Volkswagen is grappling with uncertainty about the impact of the Ukraine war on its finances.

Date of first publication: April 3, 2022, 04:52 PM IST



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