new Delhi: There was a time when preparations were on to sell electric car manufacturer Tesla. Tesla chief Elon Musk wanted to sell his company and Elon Musk was offering mobile maker company Apple to buy it. However, a great offer came out from Apple’s hands. This information has been given by Elon Musk, head of Tesla company itself.
Elon Musk has tweeted that Apple CEO Tim Cook had been offered to buy Tesla during the bad days of the Model-3 program, although Tim Cook refused to meet. At that time Tesla’s value was 10 times less than today’s price. In fact, in 2017, Tesla had a cash crisis. During that time Tesla increased the production of Model 3 electric vehicle in the mass market. Musk said that during that period the company had seen a bad phase for 6 months or more.
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
At the same time, Apple was deciding to enter the market as a competitor to Tesla for a fully self-driving car system. In recent years, Apple has hired several ex-Tesla executives who specialize in drive trains, car interiors and self-driving technology. It has also acquired companies that specialize in self-driving cars. From this it seems that Apple is considering entering the car market once again.
Tesla profits from losses
Tesla was struggling to make vehicle production profitable by 2018. Then his fate changed. Since then, the company is continuously in profit. Now Tesla has become the world’s most valuable auto manufacturer. At the same time, Musk’s tweet came after the news that Apple is working on making its own electric car. However, Apple has refused to comment on Musk’s tweet.
Let us know that the shares of both Apple and Tesla companies have increased since the beginning of the year 2017. Tesla’s stock has risen nearly 1,400 percent, though still less than a third of Apple’s market capitalization. At the same time this year, Tesla’s stock has shown a jump of over 700 percent. Apple, on the other hand, is aiming to produce driverless cars for customers in the year 2024.
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