Just one day after it was reported that Apple Inc AAPL is working on self-driving vehicles, Tesla Inc. TSLA CEO Elon Musk tweeted some history about the two companies.
What Happened: Apple is working on an electric vehicle that could be launched in 2024, Reuters reported.
Ark Invest research director Brett Winton says Apple watched the live stream of Tesla’s Battery Day and took notes. Those notes were leaked to Reuters and Apple is now working on hiring a team to begin production for 2024 or 2025.
See Also: Why Apple Could Emerge As Tesla's 'First True Competitor'
Musk’s Response: “Strange, if true,” Musk replied to Winton's tweet. Musk said Tesla already uses iron-phosphate for its medium-range cars produced at its Shanghai factory.
“A monocell is electrochemically impossible, as max voltage is 100x too low. Maybe they meant cells bonded together, like our structural battery pack?” Musk replied questioning their battery plans.
The most interesting part of the response from Musk may have been how he tried to get Apple to acquire his company years ago.
Musk said in November Tesla was a month away from bankruptcy ahead of its Model 3 rollout with the CEO putting in the last of his money to keep the company from “certain death.”
Based on the market cap of Tesla, a buyout would have been offered to Apple in the $60 billion range.
Price Action: Shares of Tesla were down 1% to $640.46 on Tuesday. Shares of Tesla are up 677% year-to-date and up 1,300% in the last five years.
Apple shares were up 3% to $131.88. Apple shares are up 75% year-to-date and up 378% over the last five years.
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Photo courtesy Steve Jurvetson on Flickr.
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