04:43 GMT22 January 2021
Listen Live
    Business
    Get short URL
    240
    Subscribe

    Elon Musk, founder of the space company SpaceX and the CEO of Tesla, said that Apple Inc. CEO Tim Cook had refused to meet him.

    Elon Musk has taken to Twitter to reveal that “during the darkest days of the Model 3 programme,” he offered Apple CEO Tim Cook to discuss the purchase of Tesla.

    Cook, however, refused to meet him.

    Musk had previously spilled that Tesla was “single-digit weeks” away from collapse in 2017.

    After starting production of the Model 3 in 2017, Tesla was struggling to keep up with production volumes amid a high number of orders. In April 2018, its capitalisation fell by a quarter, and the company had to take emergency measures to rectify the situation.

    Subsequently, Tesla has repeatedly reported losses, but continued to confidently increase car production. For the first time, the company entered net profit only at the end of the second quarter of 2018, but these figures remained insignificant due to investments in production facilities.

    The news about the botched business meeting between Musk and Cook has been met with all sorts of social media reactions from Tesla and Apple fans.

    Musk shared this information amid the reports that Apple intends to release a self-driving passenger car in 2024. According to the media, Apple is now focusing on developing a battery of its own design, which is a large single-cell battery.

    Meanwhile, shares of Tesla ended 6.5 percent lower in its S&P 500 debut, amid news of potential competition from Apple.

    Tags:
    Tesla, Elon Musk, Tim Cook, Apple
    Community standardsDiscussion