Silicon Valley billionaire Elon Musk said on Tuesday he reached out to Apple Chief Executive Officer Tim Cook "during the darkest days of the Model 3 program" to discuss the possibility of the iPhone maker acquiring Tesla for a tenth of its current value.
Apple Inc. CEO Tim Cook would not take a gathering years back to talk about securing Tesla Inc., Elon Musk said on Tuesday. Tesla CEO Musk said in a tweet that he contacted Apple during the "haziest days" of advancement of his organization's Model 3 to discuss a potential arrangement. Musk said he wanted to examine the chance of offering Tesla to Apple for one-10th of its present worth, showing a valuation of about $60 billion.
In 2017, Tesla consumed money as it sloped yield of its mass-market Model 3 electric vehicle. Musk told representatives then at the organization's Fremont, California, plant that it confronted a time of "creation hellfire" for a half year or more. Weeks in the wake of offering that expression, he tweeted about dozing on the top of an industrial facility as he attempted to determine bottlenecks.
That occurred around a similar time Apple chose to move from advancement of an undeniable Tesla contender to a basic self-driving vehicle framework. As of late, Apple has employed various ex-Tesla chiefs who spend significant time in drive train, vehicle inside and self-driving innovation. It has likewise procured organizations that spend significant time in self-driving vehicle advancement, showing that the organization is by and by thinking about entering the market.
During 2017 and 2018, Tesla battled to increase high volume creation of the Model 3 vehicle, with Musk at the time illuminating financial specialists the organization was buried "underway damnation" due to issues with computerized creation frameworks at its battery industrial facility in Reno, Nevada.
Be that as it may, Tesla conquered the issues and has since piled up a line of quarterly benefits. The electric automaker got one of the most important organizations to join the S&P 500 when it turned out to be essential for the broadly followed stock list on Monday. Portions of Tesla, in any case, finished 6.5 percent lower in its S&P 500 presentation, in the midst of information on possible rivalry from Apple.
Musk's remark about Apple came a day after Tesla joined Apple in the benchmark S&P 500 Index, covering a year in which its stock has flooded. Speculators have offered up the offers as the organization has posted five back to back quarters of benefit.
Tesla's struggles proceeded into 2018 when Musk tweeted he had "subsidizing made sure about" to take the organization private. As a result, he consented to pay $20 million to settle with the U.S. Protections and Exchange Commission yet faces a financial specialist claim. Tesla shares are up about 800% since that tweet.