Tim Cook apparently refused to meet with Elon Musk in regard to potential Apple takeover of Tesla during Model 3 production
It seems Elon Musk has been reminiscing about the past during a Twitter discussion about the upcoming Apple Car and how the Cupertino company seems to have been “inspired” by Tesla’s ongoing developments in electric car batteries. According to the frequently controversial CEO of SpaceX and Tesla, the troubling times of the production of the Model 3 electric car made him consider a potential union with Apple.
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 take the meeting.— Elon Musk (@elonmusk) December 22, 2020
Of course, there will be some that will wonder why Tim Cook didn’t jump at the chance and missed a massive opportunity by not acquiring Tesla at one-tenth of its current value (the company’s market cap is now over US$600 billion). But you don’t head a firm that became the first in history to become a US$2-trillion valued company without making a few wise decisions.
Whether Cook simply didn’t believe Tesla was a good fit for Apple, was more interested in Apple producing its own electric car, or simply didn’t want to speak to Musk will remain a mystery unless the executive decides to spill the beans, which seems unlikely. Additionally, some analysts believe Tesla is highly overvalued and will suffer serious consequences if its stock bubble bursts.
There’s also the chance Musk is simply playing a deflection game here; Apple is heading towards becoming one of Tesla’s main competitors and already has a massive dedicated customer/fanbase in place that will be tempted into making an Apple Car purchase simply because of being in possession of other Apple products. There could be some serious mud-flinging and shade-throwing coming to the electric car market in the not-too-distant future.