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Elon Musk says Apple’s boss snubbed takeover deal

Tesla founder Elon Musk says that Apple chief executive Tim Cook snubbed talks to buy the car company back in 2017.

Mr Musk tweeted on Tuesday that he reached out to the Apple boss during his company’s “darkest days”.

At the time Tesla was valued at $60bn (£45bn), but it has now grown to be worth 10 times that amount.

Mr Musk said he had planned to discuss a possible sale of Tesla to Apple as it was struggling financially while building its Model 3 electric car.

During that cash crisis, the billionaire entrepreneur told his employees that its factory faced a period of “production hell”.

Weeks later he tweeted about sleeping on the roof of the factory as he tried to fix production bottlenecks.

Tim CookIMAGE COPYRIGHTGETTY IMAGES
image captionTim Cook took over from Apple founder Steve Jobs in 2011

However, Tesla overcame the problems and has since posted up a string of quarterly profits.

This week, the electric carmaker became one of the most valuable companies to join the S&P 500 index.

Copied from:BBC news

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