Elon Musk Says Apple Passed on Buying Tesla

The extraordinary performance of Tesla stock in 2020 could have potentially unfolded differently if Tim Cook, Apple’s CEO, had consented to a meeting a few years ago, according to Elon Musk.

In response to a recent Reuters report indicating Apple has not discontinued its electric vehicle initiative and continues to develop plans for a tangible automobile, Musk stated that during the most challenging period of ramping up Model 3 production, he contacted Tim Cook to explore the possibility of Apple purchasing Tesla. Musk claims Cook declined to schedule a meeting.

TechCrunch has contacted Apple seeking a response.

Musk’s brief statement did not specify the precise timeframe, but considering publicly available details regarding Tesla’s Model 3 production, it likely occurred between 2017 and 2019. Concerning Musk’s suggested acquisition price, one-tenth of Tesla’s present market value equates to approximately $60 billion, a figure not significantly different from the stock’s valuation last year prior to its substantial recent increase.

Currently valued at over $600 billion on the public markets following its inclusion in the S&P 500 this week, Tesla’s recent surge in stock price has puzzled many Wall Street analysts, attributing the growth to support from newer and first-time investors who are enthusiastic about Tesla’s offerings and its leadership.