Founder and CEO of leading electric vehicle manufacturer Tesla Inc. (TSLA) has revealed that he once approached IPhone manufacturer Apple Inc. (AAPL) with an intention of selling his company to the tech giant.
Musk says there was a time the company was experiencing financial distress due to the ‘Model 3 program’ which wasn’t picking up as anticipated it’s then when he reached out to Apple’s CEO Tim Cook wanting to sell Tesla for 10% its current value.
“He refused to take the meeting”, said Musk on Twitter.
This happened between 2017 and 2018 when Tesla was struggling with scaling up production of Model 3. During that time Musk informed investors that the company was going through a ‘production hell’ due to problems emanating from its automated production systems at its battery factory in Reno, Nevada.
The CEO made this revelation on Twitter while replying to a story done by Reuters suggesting that Apple will produce a passenger vehicle by 2024 which will be using new battery technology.
Additionally, Musk said ‘Monocell‘ which Apple is intending to use is electrochemically impossible since its max voltage is 100X too low unless they are bonded together.