On Tuesday, Elon Musk talked about the refusal he got from the CEO of Apple Inc. Tim Cook. Musk informed in a tweet that he wanted to meet Cook to discuss the acquiring of Tesla. He informed that during the “darkest days” of development of his company’s Model 3, he wanted to discuss a potential deal. He wanted to talk about the probability of selling Tesla to Apple for 10% of its present value, demonstrating an evaluation of about $60 billion.
Tesla was spending a lot of money in 2017 in its attempt to increase the output of its mass-market Model 3 electric vehicle. During the same period, Apple had decided to change gears from designing of a full-fledged Tesla competitor to a primary self-driving car system. Apple has recruited numerous former Tesla officials who hold specialty in driving train, car interior and self-driving technology. Also, it has acquired firms that specialize in self-driving car development. This represents that the company is once again thinking about entering the market.
Since the beginning of 2017, shares of Tesla and Apple have risen. Although Tesla is the biggest gainer, almost 1,400%, Apple is still the leader as Apple holds three times Tesla’s market capitalization. Due to a Reuters report, Apple’s stock has jumped this week. On the other hand, Tesla has climbed down. As per the report, Apple is looking to produce a driverless car in 2024.
As per a Bloomberg News, Apple has geared leadership of its car project to John Giannandrea from former top engineer Bob Mansfield.