Elon Musk says Apple passed on potential deal to buy Tesla

Apple chief executive officer Tim Cook refused to take a meeting years ago to discuss acquiring Tesla, Elon Musk has said on Twitter.

Tesla CEO Musk said in a tweet that he reached out to Apple during the “darkest days” of development of his company’s Model 3 to talk about a possible a deal.

Elon Musk is now the world's second-richest person.
Elon Musk is now the world’s second-richest person. Credit:Bloomberg

Musk said he planned to discuss the possibility of selling Tesla to Apple for one-tenth of its current value, indicating a valuation of about $60 billion.

Production of the Model 3 began in 2017, around the same time Apple decided to shift from development of a full-fledged Tesla competitor to an underlying self-driving car system.

Advertisement

In recent years, Apple has hired a number of ex-Tesla executives who specialise in drive train, car interior and self-driving technology, indicating that the company is once again considering entering the market.

An Apple spokesman didn’t immediately respond to a request for comment.

Apple stock has climbed, while Tesla stock has slipped in response to a Reuters report that Apple is aiming it put a car into production as early as 2024.

Bloomberg

Business Briefing

Start the day with major stories, exclusive coverage and expert opinion from our leading business journalists delivered to your inbox. Sign up for the Herald‘s here and The Age‘s here.

Most Viewed in Business

Source: Thanks smh.com