Apple was reported to have approached British Formula One team owner McLaren Technology Group for a strategic investment, but McLaren CEO denied it.

"I can confirm that McLaren is not in discussion with Apple about any potential investment," McLaren Chief Executive Officer Michael Flewitt said. Apple declined to comment.

The Financial Times reported that Apple was seeking to buy a stake in the British luxury car maker, which is valued at between 1 billion pounds ($1.30 billion) and 1.5 billion pounds.

The New York Times reported Wednesday that Apple is also in talks about potentially acquiring Lit Motors, a San Francisco startup that has developed an electric motorbike.

Many analysts have speculated that Apple would buy Tesla Motors, deemed a good fit because it sells electric cars with self-driving capabilities.

Apple is working on a self-driving project dubbed Project Titan, according to people familiar with the plan. The company recently hired the former head of BlackBerry's automotive software division and has continued to raid auto companies for engineers with expertise in designing vehicle manufacturing systems.