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.
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“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.”
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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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