scorecardresearch
Follow Us:
Wednesday, January 27, 2021

Elon Musk says Apple CEO didn’t take meeting about buying Tesla

In a tweet Tuesday, Musk said he reached out to Apple CEO Tim Cook “to discuss the possibility of Apple acquiring Tesla (for one-tenth of our current value). He refused to take the meeting.”

By: AP | San Francisco | December 23, 2020 10:30:39 am
Tesla Inc, Tesla Indian Launch, Tesla Motors India and Energy Private Limited , David Feinstein, India’s transport minister Nitin Gadkari on Tesla, Elon Musk on Tesla launching in India, Tesla News, Indian ExpressTesla CEO Elon Musk had tweeted several times about an impending foray into India. (AP/file)

Tesla CEO Elon Musk says he once considered selling the electric car maker to Apple, but the iPhone maker’s CEO blew off the meeting.

In a tweet Tuesday, Musk said he reached out to Apple CEO Tim Cook “to discuss the possibility of Apple acquiring Tesla (for one-tenth of our current value). He refused to take the meeting.”

Tesla’s market value is $616 billion, as of the close of trading Tuesday. One-tenth of that is $61.6 billion.

Musk said he sought out the meeting with Cook “during the darkest days of the Model 3 program,” a reference to Tesla’s first electric car designed for the mass market. As recently as 2018, Tesla was struggling to meet its vehicle production goals and turn a profit.

Tesla’s fortunes have changed since then. The automaker is finally making money on a consistent basis after years of losses and continues to hit milestones for deliveries of its vehicles. Its shares have soared 665% this year alone, making it the world’s most valuable automaker and among the top 10 biggest US companies in the S&P 500 index, which Tesla entered on Monday.

Musk’s tweet followed published reports suggesting Apple is working on developing its own electric cars.

Apple declined to comment.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement