Project Titan: Apple building large car drive rooms in California; made informal bid to buy Tesla at $240 per share in 2013

“Financial analyst Craig Irwin of Roth Capital Partners claims that as well as previously trying to buy Tesla, Apple is today very much continuing with its Project Titan car plans,” William Gallagher reports for AppleInsider.

“‘Apple is building multiple very large drive rooms in California,’ Irwin told CNBC. ‘”What does that mean? They’re doing something interesting and exciting on the battery side. Project Titan is absolutely not dead,'” Gallagher reports.

Read more in the full article here.

“Speaking on CNBC on Tuesday, Roth Capital Partners analyst Craig Irwin claimed Apple made a “serious bid” to purchase Tesla, around 2013, with the offer supposedly in the region of $240 per share,” Malcolm Owen reports for AppleInsider. “It is unclear how far along the alleged negotiations went, such as a ‘formal paperwork stage’ that would signal an intent to purchase.”

“While there is only the word of Irwin that the bid was made, he insists ‘multiple checks’ were made with multiple sources, and he has ‘complete confidence’ that it is ‘credible,'” Owen reports. “If Apple is still interested in acquiring a manufacturer to make its own vehicle, the televised segment suggests Tesla could be a good target for such a purchase once more, as the price has dropped down far enough to make it an attractive target. At the time of publication, Tesla is hovering at around $205 per share, far below the $240 supposedly bid six years ago by Apple.”

Read more in the full article here.

MacDailyNews Take: Apple could by now feel that they have now progressed Project Titan beyond having to acquire another vehicle maker or…

A little birdie tells us that “a major Apple acquisition looms,” but that “it’s not yet a done deal.” If it goes through, however, “people will be shocked.” No further information was given. We’re unsure if “people will be shocked” at the name of company Apple may acquire, the size of the acquisition, both, and/or something else altogether.MacDailyNews, April 4, 2019

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Analyst: Apple will do a major media acquisition this year – April 4, 2019
Major Apple acquisition looms; ‘people will be shocked’ – April 4, 2019

14 Comments

  1. Don’t know if I would be surprised or not if Tesla were in their sights, it has all the skills and base that would advance Apples quest to be a major car player and bring it years forward, yet equally things have changed considerably since 2013. There are big dangers, the company has become somewhat entrenched in its developmental pattern making it incredibly difficult for Apple to instil its own DNA or short term plans into the business. It would take years to make any real impact at all other than financial input, to which it would become committed without any real ability to gain its own impact of branding in the market place and with all the dangers of the company being over stretched and struggling as the big boys make increasing inroads into this sector. After all despite all its present advantages it struggles to make any money and the market place will get much tougher.

    For me I wonder if a far smaller but perhaps more logical step would be aquiring a company like McLaren who has a highly rated automotive (though not exclusively) technology subsidiary, and a substantial technological interest in Formula E with its battery technology and has serious lightweight car construction knowledge and patents that is crying out to be more widely exploited in a Similar fashion that Tesla originally did with Lotus. Working thereafter with a vehical production specialist be it in the West (as Jaguar has with its Electric vehical) or in Asia this would allow this combined business and Apple in particular to brand state of the art vehicals to a high quality with all the impact that allows and an existing company does not, Equally it can ensure reliability and flexible planning and implementation while building up production numbers in a controlled environment over which it has near total control and in the prime and profitable market sector(s) it chooses, without fear of being commited to the more widespread market sectors Tesla are now aiming at and are most susceptable to competition and perhaps without the specific management expertise to adapt it. After all Tesla has such an impetus of its own already and abiding by its very specific set of rules change would be problematic at best if it’s aims don’t align with Apples.

    1. I agree with a lot of what you said, Tesla’s technology is great but their is a massive cultural clash with integrating the two companies and that’s before you even get to Elon Musk.
      I could see Apple doing a Beats and basically acquiring Tesla to use their technology to build their own cars while letting Tesla carry on being an independent company and sub brand. FileMaker is another example of this approach.
      If Apple allowed Tesla to still be independent but solved their never ending cash flow issue (which they could in a snap of the fingers) it could really allow Elon to kick on with his plans.
      To be honest if Apple acquired Tesla, they may as well buy SpaceX which would give them access to Elon’s sub orbital internet plans which could be very interesting.

  2. Tesla has done a lot for the electric automotive industry and led the way for electric cars. Their cars are brilliant and in my opinion one of the best looking US designed cars on the road (aside from the classics of course).
    At ~40BB the price is well within Apple’s range. Hell they could buy it for cash.
    Tesla would benefit from Apple’s supply chain expertise. It is still losing money but would like make some if it could ship its orders on time.
    SpaceX is private so I doubt Musk would want to let that go.

  3. Have you people lost your collective minds? Cars are not like laptops, not like servers, and not like phones. I get that phones became more like computers so it was a natural evolution when Apple COMPUTER became a phone manufacurer – but PEOPLE – P L E A S E – Think! Cars are such a different industry and different in so many ways. I GET the argument that “cars are becoming rolling computers” but this just smacks of hubris in the oh so classical meaning of the term. Stick to your knitting Apple. Focus your resources to what you know and keep getting BETTER at that. Start launching meaningful yearly hardware updates for Macs and iPads. Give us good multitasking on iPads, Figure out how to launch a MAC PRO, work on better software for “pick any industry”. Seems like you are getting bored with the hard work of improving computers and want to go dabble (waste a bunch of cash) on something you know NOTHING about.

    1. Like Danox said electric cars involve so many core technologies that Apple is already involved with and it’s a new area where there’s plenty of room for innovation both in hardware and services.
      Where I do agree with you is Apple can’t forget it’s core products and needs to put more resources behind them.
      Apple needs to learn to walk and chew gum at the same time, they should be able to do both.

  4. Not sure about how either company has a handle on functioning in the real world.

    Apple coasting on the iPhone. Other products not coming out.

    Tesla not having a clue apparently about supplying body parts for wrecked cars. That will not fly in the real world.

    I spent 30 years in the auto industry, its the daily details that will bite you..

    Love my Macs, since 1988 but neither company understands the “daily detail” problem.

  5. Apple has done a pretty good job with their stores, but autos are a bit different. Customers basically expect their car company to have dealers and, especially, service, locally. They have also learned that when traveling cross company they may need service in a smaller town they are passing through. That would be a massive investment for Apple to make.

    And then is the need to recharge those batteries on long road trips. If Apple puts in a small charging gas engine to continually recharge the battery then a 600 mile one way trip is possible. Otherwise charging stations are a huge concern.

    Combine the two areas and you can see the challenge Ap]ple faces even if they make an outstanding product.

  6. I remember when Steve talked about the markets when presenting the iPhone. Back in the days, cell phone was a bigger market than gaming and all. If Apple is still aiming on big market, now that they are ready to take the credit card market, the car industry is the next big one to acquire. Tesla would be the logical choice; new car company, enough to induce Apple mentallity… And their next CEO…

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