The CEO of Tesla, Elon Musk has confirmed that he met with Apple officials, but brushed away reports of a sale to the company.
The tech industry was rife with speculation after the CEO of Tesla, Elon Musk was believed to be in talks with Apple for an alleged acquisition by the Cupertino giant. While the Tesla chief has now confirmed meeting with Apple officials, he has played down the reports of an acquisition by claiming that it is “very unlikely” to happen.
Musk claimed that getting acquired by another company might hinder the company’s chances to create a mass market electric car, which has been the company’s sole goal for the past few years now.
From Apple’s perspective, the acquisition of one of the most innovative companies in the world today makes a lot of sense. Apple is losing its market share in the mobile industry, so it has been very eager to head into new market segments and the acquisition of Tesla would have been an ideal way to start things off. The company has already expressed its interest to bring iOS to your cars at last year’s WWDC event, so we might see more of Apple in future cars.
Tesla on the other hand is facing several challenges in its pursuit of creating an affordable consumer grade electric car. Not to mention the competition it faces from industry rivals like General Motors. With GM’s Chevrolet Volt already popular with the masses, Tesla will have to come up with something better and quick. So with that in mind, an acquisition of Tesla at this point just doesn’t sound feasible.