The Road Not Taken: Apple's Missed Chance on Tesla's Electric Dream
In the high-stakes game of technological innovation and market disruption, Tesla has come out on top despite the odds. Meanwhile, Apple Inc.'s recent decision to cancel its electric car project, Project Titan, serves as a poignant reminder of what might have been. What would’ve happened if Tim Cook met with Elon Musk?
During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting.
— Elon Musk (@elonmusk) December 22, 2020
Given its success, it’s easy to forget where Tesla came from. Still, when Apple fails to pull it off, it reflects on the potential strategic missteps of tech giants when faced with groundbreaking opportunities.
Apple's Missed Chance
Apple decided not to make electric cars, even though it had the money and history of shaking up markets. This choice shows they didn't want to stray too far from what the company is good at, even if it meant missing out on a big opportunity. But what did they leave on the table? Apple has some of the brightest minds and the resources to create the unimaginable. Yet Apple’s wonder team could not figure out how to get the technology right and the price point under $100,000 even with razor-thin margins.
Again, that shows what Tesla has been able to do. Not only building amazing cars but also reconstructing the manufacturing process, developing battery technology, and turning the automotive world on its head. Many of these pieces were already in place when Musk was in his “darkest days” with Tesla. Model 3 was a challenge that almost killed Tesla, and Musk claims he has PTSD from the experience. However, he was ready to hand all that technology, knowledge, and manufacturing to Apple for a bargain price.
The Road Not Taken: Apple's Strategic Pivot
Despite its vast resources and history of disruptive innovation, Apple's decision to shelve Project Titan suggests a reluctance to venture too far from its core competencies, even in the face of a potentially market-defining opportunity. While pragmatic, this pivot away from electric vehicles may be viewed through the lens of history as a missed chance to redefine another industry.
It evokes the question: Could Apple have mirrored Tesla's success in revolutionizing the automotive industry had it embraced the same level of audacity and vision that Musk demonstrated? The answer is yes, but Apple reverted to its core strengths, which it has had obvious success. Perhaps it would've continued if the company were more desperate and needed a product to drive the stock price up and rattle the tech world. But Apple is doing just fine without cars.
While this could be considered a win for Tesla and other EV manufacturers, which have avoided a significant new competitor on the field, it may be a bit of a setback. Apple, like Tesla did, would’ve brought a refreshing take to the automotive industry. We can only imagine what the company had in store. Tesla’s mission is to accelerate the world's transition to sustainable energy. An Apple car would’ve helped that mission.
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