Elon Musk says Tim Cook 'refused' to meet with him about Apple buying Tesla
Elon Musk, CEO of Tesla (TSLA), tweeted Tuesday that he had tried to get a meeting with Tim Cook, CEO of Apple (AAPL), in 2018 about the possibility of Apple buying the electric vehicle giant - but that Cook turned it down .
Musk responded to a tweet from ARK Invest's director of research, Brett Winton, about Apple's renewed vehicle ambitions when he revealed news of a blockbuster deal.
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“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 attend the meeting, "Musk tweeted.
Tesla has a current market cap of $ 606.9 billion and officially joined the S&P 500 on Monday after posting four profitable quarters in a row.
Apple declined to comment on Musk's tweet.
Tesla is far from "production hell".
The timeframe Musk is referring to is what he previously referred to as "production hell" when Tesla attempted to ramp up production on its Model 3 vehicle in 2018. The car that is now Tesla's volume seller prior to the Model S and Model X was seen as an integral part of the automaker's survival. However, at that time, the company was facing production problems.
In 2019, Roth Capital Partners' Craig Irwin told CNBC in an interview that Apple attempted to acquire Tesla for $ 240 per share in 2013. However, the deal never materialized.
Elon Musk, owner of SpaceX and CEO of Tesla, will arrive on the red carpet for the Axel Springer Media Award in Berlin on December 1, 2020. (Britta Pedersen / Pool via AP)
Last year, Tesla's share price soared as private investors crowded the company. It's now up 592% for the year, making it one of the top performing stocks of 2020. At the close of Tuesday, it was trading at just over $ 640 per share.
Apple, meanwhile, is said to be working on its own autonomous vehicle. Reuters reports that the company could have the car, which is part of the Apple Project Titan program, on the road by 2024.
Musk's tweet on Tuesday came from a Mercury CEO known for using the platform for news. In 2018, he tweeted that he had secured funding to take Tesla private for $ 420 per share, which sparked allegations of fraud by federal securities regulators that were eventually settled.
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