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Apple Shareholders Propose Tesla Buy

March 11, 2015
Apple is reportedly in the beginning stages of developing an electric vehicle. And a report in Bloomberg says the two companies met just last year, although neither side was willing to talk about what was discussed.

Apple (IW 500/4) would consider making a bid for electric carmaker Tesla (IW 500/384), if a couple Apple shareholders get their way.

At the Tuesday meeting, one shareholder remarked to CEO Tim Cook, "I'd like to see you guys buy Tesla," according to a tweet from the Financial Times' Tim Bradshaw. Cook reportedly responded, "We don't really have a relationship with Tesla. I'd love Tesla to pick up CarPlay. Was that a good way to avoid the question?"

And that wasn't the last of it, another shareholder remarked; "I think there is something about you two companies." To which Cook responded, "Let me think if there's another way to do a non-answer."

Apple shareholder tells Tim Cook "I'd like to see you guys buy Tesla." Stand by for his response...

— Tim Bradshaw (@tim) March 10, 2015

The questions aren't too off base. Apple is reportedly in the beginning stages of developing an electric vehicle. And a report in Bloomberg says the two companies met just last year, although neither side was willing to talk about what was discussed.

Apple has the cash to make a move. Tesla is worth just north of $24 billion. A drop in the bucket compared to Apple's reported $178 billion in cash on hand.

Tesla already makes a great electric car. The Model S was named the "Best Overall" vehicle for 2015 by Consumer Reports. It's the second year in a row the luxury EV came out on top.

Meanwhile, Apple has been not-so-secretly putting together a large team of auto industry veterans and battery techs to build its own vehicle. But with an already crowded field, some analysts think Apple may be wise to partner with a company that's already staked a claim in the market, making Tesla an obvious choice.

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