Tesla CEO Elon Musk has revealed that he once considered selling the electric car maker to Apple.
In a tweet on Tuesday, Elon Musk said he reached out to Apple CEO Tim Cook “to discuss the possibility of Apple acquiring Tesla (for one-tenth of our current value). He refused to take the meeting.”
Elon Musk said he sought out the meeting with Cook during the darkest days of the Model 3 program, a reference to Tesla’s first electric car designed for the mass market.
Tesla’s market value is $616 billion, as of the close of trading Tuesday. One-tenth of that is $61.6 billion.
As recently as 2018, Tesla was struggling to meet its vehicle production goals and turn a profit.
However, Tesla is finally making money on a consistent basis after years of losses and continues to hit milestones for deliveries of its vehicles.
Its shares have soared 665 per cent this year alone, making it the world’s most valuable automaker and among the top 10 biggest US companies in the S&P 500 index, which Tesla entered on Monday.
Elon Musk’s statement comes a day after Apple revealed that they are interested in manufacturing their own car by 2024.
Apple first launched efforts to build a car from scratch under the Project Titan initiative in 2014. Their lofty car production goals were eventually put on the back burner as the company refocused on the software side.