Apple Shareholders Propose Tesla Buy

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.
March 11, 2015
2 min read

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.

About the Author

Rob LaFrentz

Senior Content Producer

Rob LaFrentz is the Senior News Producer for IndustryWeek. A former Deputy Editor at the Chicago Tribune, Rob has years of experience covering all aspects of business, manufacturing, finance and other news.

Sign up for IndustryWeek Newsletters
Get the latest news and updates.

Voice Your Opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!