If I had acquired Tesla back then, by now… Apple’s Painful Mistake

In a recent interview, ArcInvest CEO Cashwood, known as the ‘golden hand of Wall Street’, said, “Apple(161.94 +0.33%)this tesla(1,116.00 +0.63%)If we had acquired Autonomous Vehicles, we would have dominated the autonomous vehicle market.”

According to the information technology (IT) industry on the 26th, Cashwood recently appeared on CNBC, an American economic media, saying, “It will take longer than expected for Apple to develop a fully autonomous vehicle. It was better to take over,” he said.

On the 18th, Bloomberg, citing an unnamed official, said that Apple would unveil a fully autonomous vehicle by 2025 at the earliest. “Apple researchers have recently been spurring the development of fully autonomous vehicles,” Bloomberg reported. As the news broke, Apple stock closed at $157.85, up 2.85% from the previous day.

However, Cashwood predicts that it will take longer for Apple to develop an electric vehicle. In the process, he pointed out the departure of key personnel of the autonomous vehicle project, such as Vice President Doug Field, who was in charge of the Apple Car project, recently left Apple and moved to Ford.

Elon Must, Tesla CEO [사진=로이터 연합뉴스]

“The process of building a fully autonomous car is quite complex,” he predicted. “If you take all of that into consideration, there’s a good chance Apple won’t launch an Apple car until 2025.”

“Instead of developing Apple Car, we had to acquire Tesla when the opportunity came in the past,” he said.

Previously, Tesla CEO Elon Musk tweeted in December last year, “I made an offer to take over Tesla from Apple CEO Tim Cook. “But he declined the meeting.”

The amount that Musk proposed to Apple at the time was said to be $62.7 billion (about 75 trillion won), or 10% of Tesla’s current market capitalization.

“If Apple had acquired Tesla at the time, Apple would have had a huge opportunity, but Apple turned it down,” said Cashwood. “I believe in the long-term value of Tesla,” he added.

Cashwood, Chief Executive Officer, Arcinvest [사진=로이터 연합뉴스]

By Kang Kyung-joo, reporter at Hankyung.com qurasoha@hankyung.com

ⓒ Hankyung.com, unauthorized reprinting and redistribution prohibited