Tesla CEO Elon Musk said that he reached out to Apple Inc CEO Tim Cook about a possible collaboration. However, the technology giant refused to meet. Musk posted this tweet on Tuesday, stating Apple refused during the “darkest days.” He also revealed that he would be open to selling Tesla to Apple for $60 billion.
In 2017, Tesla used most of its cash to increase its mass-market Model 3 Electric vehicle. According to Musk, Tesla has gone through many sleepless nights, figuring out how to build his Model 3s.
When did Apple refuse?
In recent years, Apple has changed its plans to build a self-driving vehicle and build an underlying platform instead. The company has acquired several companies that deal with sensors and circuitry associated with autonomous vehicles. This fall, it added the former head of engineering at Tesla Motors as a director.
Musk replied a straight “no” when asked whether he would like to become CEO of Apple. A year before that, he told the technology site Recode that Apple’s car project was a “fruitless activity.” Apple CEO Tim Cook said in 2015 that Apple was working on self-driving technology for maps, not cars.
Shares of Apple and Tesla
Apple and Tesla have had wildly different gains this year (1,400% vs. 25%), but both stockholders can be happy with a new report that Apple aims to release an electric car in the next few years. Apple is worth more than nearly a thousand Telsa cars based on market capitalization.
Tesla is easily the most controversial stock on Wall Street. There is always confusion between the investors whether the electric car maker will benefit from the stock or go the other way.
The success of Tesla and Apple so far…
Introducing the new Model 3: a high-performance electric car for the masses. With a range of over 215 miles and a starting price of $35,000 before incentives, it is Tesla’s most affordable car yet. Tesla Model 3 is a very successful car for the company so far. Although, its future success will depend on demand and whether it faces competition in the future.
On the other hand, Apple is said to be working on game-changing battery technology. It may potentially bring down the cost of batteries while increasing the range of the vehicle. The company will use a mono cell battery design to power up the electric vehicle.
It is a question now whether Apple will be taking any step on Musk’s tweet. What are your thoughts on the fact that Apple refused talks with Tesla? Do let us know in the comments below. Also, if you found our content informative and to the point, do like and share it with your friends.