Apple Inc. (Nasdaq: AAPL), Tesla Motors, Inc. (Nasdaq: DSLA) – Tim Cook says Tesla has ‘a lot of admiration and respect’ when it comes to dropping notes on an Apple car.

Apple Inc. (Nasdaq: AAPL) CEO Tim Cook dropped some notes on the work of the highly anticipated Apple car and said he had a lot of “admiration and respect” Tesla Inc. (Nasdaq: DSLA).

What happened: In an interview with Kara Swisher “Sway” on the podcastCook declined to comment on whether Apple works on a car or the technology inside a car.

However, Cook said that Apple wants to integrate hardware, software and services, and that “finding the points of those places is where we think the magic is happening.”

“We want to own the primary technology around it,” the Apple CEO added.

At Tesla: Although he has never spoken to Tesla CEO Elon Musk, Cook said he has great admiration and respect for the company that Musk built.

“I think Tesla has done an incredible job of not only establishing lead, but also taking the lead in the EV space for such a long time. So I have a lot of appreciation for them,” Cook told Swiss.

Musk tweeted once in December last year Tried to reach Apple asked Cook to discuss the possibility of acquiring Tesla, but Cook refused to take a meeting.

See also: Why might Apple emerge as Tesla’s ‘first real competitor’?

Why this is important: Apple has long speculated on the task of developing an autonomous vehicle under the code name Project Titan. And the company Purchased self-driving startup in June 2019.

There are strong speculations about Apple’s potential partners in the self-driving electric vehicle. It Announced Apple could partner with South Korean automaker in February Hyundai Motor Company (OTC: HYMTF) Kia Corp., a subsidiary on electric vehicles, even after denying such action in a statement.

It is also speculated that Apple might work With contract manufacturer For its rumored electric vehicle, negotiations with some automakers have not been fruitful.

Price action: Apple shares rose nearly 2.4% to close at $ 125.90 on Monday, and rose nearly 0.5% during the hourly session.

Read more: Snapshot threatens Apple’s anger with attempts to circumvent new privacy rules: FT

© Benzinga did not offer investment advice. All rights reserved.

Sophia Harrison

Part time worker

I'm Sophia Harrison working as a part-time staff at the Costco since the past year until I become as an author at the iron blade, hope I can use my experiences with the supermarkets here.

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