Apple Said to Have Made 'Serious Bid' of ~$240 Per Share to Acquire Tesla Around 2013

It has long been rumored that Apple plans to compete in the electric vehicle market in some capacity, ranging from supplying other automakers with underlying technologies to developing its own vehicle entirely, and new information suggests that Apple may have been eyeing a major acquisition to boost its efforts.

tesla apple logos
Namely, Apple is said to have made a "serious bid" for Tesla around 2013, offering around $240 per share. That's according to Craig Irwin, a senior analyst at investment firm Roth Capital Partners, who said he has "complete confidence" in this information, but he doesn't know if the bid reached a "formal paperwork stage."

"Around 2013, there was a serious bid from Apple, at around $240 a share," said Roth, speaking on a CNBC video highlighted by AppleInsider. "This is something we did multiple checks on. I have complete confidence this is accurate."


"I don't know if it got to a formal paperwork stage, but I know from multiple different sources that this was very credible," he added. "So, right now, Apple is building multiple, very large dry rooms in California… they're doing something interesting and exciting on the battery side… Project Titan is absolutely not dead."

Tesla had 114.5 million shares outstanding as of January 31, 2013, and that number increased throughout the year, so Apple's bid would have totaled at least $27.4 billion at the time. Now, the electric vehicle maker's shares are trading around the $203 mark, well below Apple's reported bid years ago.

Tesla's technologies and facilities, including its assembly plants in California and Nevada, certainly would have helped Apple's so-called "Project Titan" automotive ambitions in big ways, but the extent of Apple's plans are still unclear.

A recent report said Apple is seeking LiDAR units that are "smaller, cheaper and more easily mass produced" than current systems, which can cost over $100,000 and are considered "too bulky and prone to failure" for use in mass-produced vehicles. Apple is said to be "setting a high bar" with demands for a "revolutionary design."

Last year, Apple rehired its former VP of Mac hardware engineering Doug Field to work on Project Titan after a five-year stint as Tesla's engineering chief. Apple has a team of about 1,200 employees working on the project, according to court documents, but recent restructuring led to 190 layoffs.

Apple has been developing and testing autonomous driving software out on the streets of Cupertino, California using Lexus SUVs since early 2017. It's still unclear if we'll ever see a so-called Apple Car, but analyst Ming-Chi Kuo believes a release wouldn't be until 2023 to 2025 either way.

Tag: Tesla

Top Rated Comments

ftaok Avatar
23 months ago
Tesla had 114.5 million shares outstanding as of January 31, 2013 ('https://www.sec.gov/Archives/edgar/data/1318605/000119312513096241/d452995d10k.htm'), and that number increased throughout the year, so Apple's bid would have totaled at least $27.4 billion at the time. Now, the electric vehicle maker's shares are trading around the $203 mark, well below Apple's reported bid years ago.
Just doing the math here, which is woefully incomplete.

TSLA has 177.3 million shares outstanding currently (per Yahoo finance). At a $203 share price, the market cap is $36B.

So even though the share price is lower now than when Apple was bidding on it, it would cost Apple more to buy TSLA now than it did in 2013.

Very misleading paragraph and probably should be updated.
Score: 24 Votes (Like | Disagree)
twocents Avatar
23 months ago
It would have been interesting in an alternate timeline where Elon Musk is acquired as Steve Jobs was with NeXT to ultimately become CEO. Elon would definitely bring a different style of leadership than Tim
Score: 18 Votes (Like | Disagree)
farewelwilliams Avatar
23 months ago
Thankfully they didn't get it and avoided the Tesla Trainwreck on autopilot.
missed opportunity. Model 3 is the best car I've ever driven. 100% satisfied with the purchase.
Score: 15 Votes (Like | Disagree)
taptic Avatar
23 months ago
Do ittttttt. Apple can afford to mess something up. Buy Tesla and let apple CFO straighten everything up. Tesla autopilot married to CarPlay = apple car.
I have a hard time believing Apple could straighten Tesla up better than they already are. Tesla has that drive to make something amazing. Apple seems to be mainly interested in their stockholders.
Score: 14 Votes (Like | Disagree)
Freida Avatar
23 months ago
I never said I’d suggest another EV car.

I bought my wife a new BMW X7. Makes the ridiculously expensive Model X look like a Kia from 15 years ago.

Just one example? It has 3 zone climate control.

Front.



The Model X gives you two cheap looking vents for the rear passengers, and no ability to control settings. The “limited” settings for rear passengers have to be changed via the front touchscreen. How utterly stupid.

And this is just one example. My wife’s X7 is absolutely loaded with features that no Tesla has at any price.
This looks really bad and this design needs to die. Model 3 showed how it can be done and I hope all manufacturers will adopt similar concept. This is so outdated and so ugly that I still don't get how come it took so long to change.
Its 21st century and most car internals look like from 80s.
We need to move away and start making things more elegant. Model 3 is a good start but its just that - good start.
[doublepost=1558458486][/doublepost]
Right, it’s instant power, but it’s _limited_ power for only so long before you have to charge again. To me, nothing will ever replace the euphoria for internal combustion engines that satisfies me with a V-8 that my Mustang GT offers. (And soon to be a 6.2l Scat Pack added.:D)
This old fashioned thinking needs to disappear. Combustion engines were a big mistake. EV is the future (for now).
Score: 10 Votes (Like | Disagree)
Dulcimer Avatar
23 months ago
It would have been interesting in an alternate timeline where Elon Musk is acquired as Steve Jobs was with NeXT to ultimately become CEO. Elon would definitely bring a different style of leadership than Tim
Different for sure. And IMO a far worse one.
Score: 8 Votes (Like | Disagree)

Top Stories

2021 mbp sd slot feature2

Kuo: New MacBook Pro Models With HDMI Port and SD Card Reader to Launch Later This Year

Monday February 22, 2021 8:52 pm PST by
Apple plans to release two new MacBook Pro models equipped with an HDMI port and SD card reader in the second half of 2021, according to analyst Ming-Chi Kuo, who outlined his expectations in a research note obtained by MacRumors. The return of an SD card reader was first reported by Bloomberg's Mark Gurman last month. "We predict that Apple's two new MacBook Pro models in 2H21 will have...
m1 mac mini

M1 Mac Users Report Excessive SSD Wear

Tuesday February 23, 2021 7:07 am PST by
Over the past week, some M1 Mac users have been reporting alarming SSD health readings, suggesting that these devices are writing extraordinary amounts of data to their drives (via iMore). Across Twitter and the MacRumors forums, users are reporting that M1 Macs are experiencing extremely high drive writes over a short space of time. In what appear to be the most severe cases, M1 Macs are sai...
iphone 12 pro display video

BOE Rumored to Supply iPhone 13 Display Panels After iPhone 12 Failures

Monday February 22, 2021 9:54 am PST by
Display manufacturer BOE will be one of the main suppliers of OLED panels for iPhone 13 models, according to a new report today from Taiwan's Economic Daily News. BOE is said to be working with touch panel manufacturer General Interface Solution (GIS), part of the Hon Hai Group to develop OLED panels. Multiple iPhone 12 rumors suggested that BOE would supply some panels for the devices,...
mac security privacy

Apple Takes Step to Prevent Further Spread of 'Silver Sparrow' Malware on Macs

Monday February 22, 2021 6:13 am PST by
Over the weekend, we reported on the second known piece of malware compiled to run natively on M1 Macs. Given the name "Silver Sparrow," the malicious package is said to leverage the macOS Installer JavaScript API to execute suspicious commands. After observing the malware for over a week, however, security firm Red Canary did not observe any final payload, so the exact threat to users remains a...
jon prosser imac 2021colors

Prosser: 2021 iMac to Come in Five Colors, Apple Silicon Mac Pro to Resemble 'Stacked' Mac Minis

Wednesday February 24, 2021 7:26 am PST by
Hit-and-miss leaker Jon Prosser has today alleged that the upcoming 2021 iMac models will offer five color options, mirroring the colors of the fourth-generation iPad Air, and revealed a number of additional details about the Mac Pro with Apple Silicon. In a new video on YouTube channel FrontPageTech, Prosser explained that the redesigned iMacs will come featuring options for Silver, Space ...
whatsapp privacy banner

WhatsApp Reveals What Happens to Users Who Don't Agree to Upcoming Privacy Policy Changes

Sunday February 21, 2021 1:11 am PST by
WhatsApp has revealed how it will gradually limit the features available to accounts held by users who do not accept the platform's impending privacy policy changes, due to come into effect on May 15. WhatsApp's new banner explaining the privacy policy changes According to an email seen by TechCrunch to one of its merchant partners, WhatsApp said it will "slowly ask" users who have not yet...
new airpods leaked image 52audios

Alleged Leaked Image Claims to Show Third-Generation AirPods and Case

Sunday February 21, 2021 2:49 am PST by
A new image claims to offer our first real world look at Apple's next-generation AirPods. The image, shared by 52audio, showcases both AirPods and the charging case for what the site claims to be the third iteration of the wireless earbuds. 52audio has in the past shared images claiming to showcase different parts of the third-generation AirPods. Most notably, the site in November shared...
anker magsafe powercore battery pack

Anker Releases MagSafe-Compatible Battery Pack for iPhone 12 Lineup

Tuesday February 23, 2021 7:49 am PST by
Following rumors that Apple is working on a MagSafe battery pack for iPhone 12 models, popular accessory maker Anker has beaten Apple to the punch with the release of its PowerCore Magnetic 5K Wireless Power Bank. First previewed at CES 2021, the PowerCore battery pack magnetically attaches to the back of any iPhone 12 model and provides 5W of wireless charging. With a 5,000 mAh capacity,...
iPad Pro Mini LED

New iPad Pro and MacBook Models With Mini-LED Displays Again Rumored to Launch This Year

Monday February 22, 2021 9:32 pm PST by
Taiwanese company Ennostar will begin production of Mini-LED backlight units for an upcoming 12.9-inch iPad Pro in the late first quarter or second quarter of this year, according to industry sources cited by DigiTimes. Ennostar is a holding company that was jointly established in January 2021 by LED-related manufacturers Epistar and Lextar Electronics. Apple is expected to unveil the new ...
14

iOS 14.5 to Make Zero-Click Attacks 'Significantly Harder'

Monday February 22, 2021 9:05 am PST by
Apple's impending iOS and iPadOS 14.5 update will make zero-click attacks considerably more difficult by extending PAC security provisions, according to Motherboard. Apple has made a change to the way in which it secures its code in the latest betas of iOS 14.5 and iPadOS 14.5 to make zero-click attacks much harder. The change, spotted by security researchers, has now been confirmed by...