24 December 2020
Elon Musk, CEO and founder of Tesla, has revealed an interesting bit of information related to his electric car brand and Apple. Musk has claimed that he tried to sell Tesla to Apple but the latter refused to even meet. He shared the information on Twitter while responding to a thread about a recent Reuters report detailing Apple car plans.
Musk said he reached out to Tim Cook with an offer to acquire Tesla "during the darkest days of the Model 3 program". The proposal was for the 1/10th of the company's current valuation. Tesla has reached a market valuation of $600 billion after getting listed on the S&P 500 stock market index. It means Cook had an opportunity to buy the company for just $60 billion.
During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting.— Elon Musk (@elonmusk) December 22, 2020
The tweet does not mention a timeline for when these events occurred but if we go by the company's history, we can surely make an educated guess. Tesla is known to be struggling with the expansion of Model 3 production during 2017 and 2018. This is what makes Cook's decision even more surprising as Apple is working on Project Titan to release its own cars since those times.
As of now, Apple is reported to exploring the possibility of working with established carmakers for its own offering of auto-driving tech and maybe even the car itself. Musk's tweet has come at a time where it suggests that we should not be expecting a collaboration between Apple and Tesla. Even if it happens, it is unlikely that the whole process would be a smooth and straight forward one.