Tesla CEO Elon Musk said he tried to sell the company “during the most difficult times of the Model 3 project,” but Apple CEO Tim Cook refused to take part in the negotiations..
Elon Musk made this statement in response to a message about a Reuters report released on Monday. According to the publication, Apple plans to unveil its own design electric vehicle that will use new battery technology.
«I contacted Tim Cook, to discuss the possibility of acquiring Apple Tesla (for 1/10 of our current value). However, then he refused to meet», – Musk wrote. At that time, Tesla was estimated at $ 60 billion. Today, its value has increased 10 times..
Musk believes that if the Reuters report is reliable, then this «very strange situation». Apple’s automotive efforts, known as Project Titan, have grown at an unplanned pace since 2014, when the corporation first began designing its own car from the ground up..
Central to its car strategy is a new battery design that can «radically» reduce their cost and increase the operating time».
Musk called this idea technically infeasible if you stick to the current potential technology that Apple has at its disposal..
Model 3 suffered for months from production difficulties and other problems, including complex assembly at the Fremont plant in state of california. Now this model is best selling luxury car in the United States, and Tesla itself has shown a series of profitable quarters, becoming one of the most valued companies to join the S index&P 500.
In August 2018 Musk tweeted that he was considering making Tesla a private company with secured funding. However, he later denied this information. Following an investigation by the Securities and Exchange Commission (SEC) Musk agreed to a settlement of claims, which included a provision that all of his tweets regarding «any information about the financial condition of Tesla» or «potential or proposed mergers», will be considered «experienced securities lawyer».
It is unclear if this decision extended to Musk’s latest tweet about the Apple sale.
Expansion into the automotive market – this is notoriously difficult task. Musk said Tesla has been on the brink of bankruptcy several times in its seventeen-year history.. Company published its first annual profit only In the past year.