Elon Musk tweeted on Tuesday Apple CEO Tim Cook refused a meeting years ago to acquire Tesla at $60 billion, reports Bloomberg. Musk said he reached out to Apple during the “darkest days” of the development of Model 3 over a possible deal, but Cook declined the meeting.
- Tesla considered acquisition by Apple after it burned cash in 2017, ramping up output of its mass-market Model 3 electric vehicle and faced a period of “production hell.”
- Recently Apple has hired ex-Tesla executives who specialize in drive train, car interior, and self-driving technology.
- Apple has also acquired companies specializing in self-driving car developments as it aims to produce driverless cars in 2024
- At the price Tesla considered acquisition by Apple, it would be just one-tenth of its current value as its stock has gained roughly 1,400% since 2017
- Musk’s comment is a day after Tesla joined Apple in the S&P 500 index benchmark.
Tesla and Apple stocks are currently declining. TSLA: NASDAQ is down 0.94% on premarket, AAPL: NASDAQ is down 1.18% on premarket