Tesla CEO Elon Musk says he once considered selling the electric car manufacturer to Apple, but the iPhone maker’s CEO called off the meeting.
In a tweet Tuesday, 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 declined to accept the meeting. “
Tesla’s market value is $ 616 billion, as of the close of trading on Tuesday. One-tenth of that is $ 61.6 billion.
Musk said he sought out a 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. In 2018, Tesla struggled to meet its automotive manufacturing goals and turn a profit.
Tesla’s fortune has since changed. After years of losses, the carmaker is finally making money and continuing to hit milestones for its vehicle deliveries. Its shares are up 665% this year alone, making it the world’s most valuable automaker and among the top 10 largest US companies in the S&P 500 index, which Tesla entered Monday.
Musk’s tweet followed published reports suggesting Apple is developing its own electric cars.
Apple declined to comment.