Elon Musk Laid Into Apple (AAPL) During Tesla's (TSLA) Q2 Earnings Call
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Tesla (NASDAQ: TSLA) reported Q2 earnings yesterday after the market close. As a regular practice, CEO Elon Musk took part in the earnings call after the report was published to share more information on his EV company’s performance in the prior quarter.
Aside from usual reporting, Musk also used the opportunity to criticize Apple (NASDAQ: AAPL). First, Musk mentioned AAPL when talking about the supply chain and materials Tesla uses.
“Apple uses I think almost 100% cobalt in their batteries and cell phones and laptops, but Tesla uses no cobalt in the iron-phosphate packs, and almost none in the nickel-based chemistries,” Musk said.
“On on a weighted-average basis we might use 2% cobalt compared to say, Apple’s 100% cobalt. Anyway, so it’s just really not a factor.”
Apple is reportedly building a self-driving electric vehicle. The process reportedly involves many former Tesla engineers.
Musk then returned to Apple and talked about “walled gardens,” referring to the company’s insistence on which software can be installed on iPhone via the App Store. While answering a question about Tesla allowing competitors to use its charger network, he said:
“I think we do want to emphasize that our goal is to support the advent of sustainable energy. It is not to create a walled garden and use that to bludgeon our competitors which is used by some companies.”
He then faked a cough and said, “Apple.”
Shares of Tesla are up 2.5% in pre-open Tuesday after the company delivered better-than-expected Q2 performance.
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Create E-mail Alert Related CategoriesConference Calls, Management Comments
Related EntitiesTesla, Earnings, Pre Market Movers
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