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Apple's merger chief met in secret with Tesla CEO Elon Musk

There's no lack of connections between two of the most darling Silicon Valley companies, Apple and Tesla Motors. Most recently, the electric car manufacturer hired away Apple's "Hacker Princess," Kristin Paget, but it's possible to look back as far as 2010 to see when Tesla hired the man who worked on the Apple Store experience, George Blankenship, to get the Tesla Stores in order (he left in late 2013). More recently, there's been outside calls for the two to link arms, namely from banking analyst Adnaan Ahmad who said Apple should just up and buy Tesla (some have also predicted that General Motors could do just that in 2014) in late 2013. But nothing in this list ties the two companies together as strongly as a new report in the San Francisco Chronicle: Apple's chief of mergers and acquisitions, Adrian Perica, secretly met with Tesla CEO Elon Musk last spring. Neither company is talking publicly, and the Chronicle's source is choosing to remain anonymous, but it appears that Tesla and Apple may have been at least a little bit interested in working together well ahead of Ahmad's call. He wrote that buying Tesla would bring another Steve Jobs-like figure (Musk) to the computer giant as well as give the maker of iPhones and iPads another market to explore (remember the iCar idea?). The Chronicle does admit that there's no upside for Tesla that's quite as obvious, and one analyst said a partnership would make more sense than a buy out. There could be other scenarios on the table, as well. Perhaps it was to discuss a joint giga-battery plant? Or maybe Musk's visit to Cupertino was just a courtesy call, in case Tesla ever needs access to Apple's famously deep pockets. We don't know, but the news does give us a slew of interesting possibilities to ponder. There's a lot more over in the Chronicle, including how Apple may be branching out into new medical devices. Related Gallery Tesla Model S View 24 Photos News Source: San Francisco Chronicle, 9to5MacImage Credit: Copyright 2014 Drew Phillips / AOLTip: Ellen K. Auto News Green Tesla Electric icar

Fiat Chrysler’s Sergio Marchionne throws more cold water on Tesla, EVs

Fiat Chrysler CEO Sergio Marchionne has once again sounded off on industry upstart Tesla and its wunderkind boss, Elon Musk. In the process, he doubled down on FCA's reluctance to follow its competitors headlong into electrifying its vehicle fleet, saying "we're not betting the bank on going fully electric in the next decade. It won't happen." Marchionne made his comments on Monday during remarks at the New York Stock Exchange, where he was marking the 70th anniversary of Ferrari. They come as Tesla struggles to ramp up production of its Model 3 sedan, its first mass-market offering, and the company continues to hemorrhage money. Here's what he said: "We still don't have a viable model for delivering an electric car. As much as I like Elon Musk, and he's a good friend, and actually he's done a phenomenal job of marketing Telsa, I remain unconvinced of a new economic viability of the model that he's pitching. So I think we need to be careful, because when we embrace electrification, and I made comments on the fact that we lose money on every Fiat 500, the electric that we sell in the U.S. Now that's reflective of the 2011-2010 costs in terms of components. Those costs have come down. If I were to do it again, I would certainly reduce the amount of the loss, but I would not make any money. And you can't run economic entities on losses. It doesn't happen. "So how do we find a convergence of technology bringing prices of components down and allows us to price accordingly — or we need to navigate through this process in a combined way between combustion and electrification to yield at least a minimum of economic returns that allows for our continuity? The last thing you want is me to be successful selling cars for 24 months and then go bust. That's not a good story. Especially in a place like this which rewards economic success. Let's not sit here and design our own future in the tank. Let's try and do it properly. We will do all the right things. We are investing without making a lot of noise on electrification. We will combine it with combustion to yield the right level of CO2. But we're not betting the bank on going fully electric in the next decade. It won't happen." It's not the first time Marchionne has publicly expressed doubts about Tesla's business plan.

Stocks down as automakers, Boeing lead China's hit list in trade spat

Shares in U.S. exporters of everything from planes to tractors fell on Wednesday after China retaliated against the Trump administration's tariff plans by proposing duties on key U.S. imports including soybeans, beef and chemicals. U.S. automakers' products are prominent on China's list of tariff targets, yet shares of automakers ended higher on Wednesday as Wall Street stocks changed course in the afternoon when investors' trade fears subsided. Tesla shares closed 7.3 percent higher at $286.94, Ford shares gained 1.6 percent to close at $11.33, and GM shares were up 3 percent at $38.03. Aircraft maker Boeing closed down 1 percent, weighing the most on the Dow Jones Industrial Average as documents from China's Ministry of Commerce and the U.S. manufacturer showed the move would affect some older Boeing narrowbody models. It was not immediately clear how much the tariffs would impact its newer aircraft. Boeing said it was assessing the situation while analysts from JP Morgan said the proposals from China looked to have been calibrated carefully to avoid a major impact on the planemaker. Fellow Dow component 3M lost as much as 2.4 percent. And farming equipment maker Deere lost nearly $10 per share at its lowest. The company urged the two countries to work toward a resolution to "limit uncertainty for farmers and avoid meaningful disruptions to agricultural trade." The speed with which the trade spat between Washington and Beijing is ratcheting up — the Chinese government took less than 11 hours to respond with its own measures — led to a sharp selloff in global stock markets and commodities. China was hitting back against U.S. President Donald Trump's plans to impose tariffs on $50 billion in Chinese goods with similar tariffs on U.S. goods even as Trump said the country is "not in a trade war with China." "Everybody knew they were going to retaliate. The question was how strong of a retaliation. Today's move clearly shows that they mean business," said Adam Sarhan, chief executive of 50 Park Investments in New York. China levied 25 percent additional tariffs on U.S. goods, but unlike Washington's list that covers many obscure industrial items, Beijing's covers 106 key U.S. imports including soybeans, planes, cars, whiskey and chemicals. Trump denied that the tit-for-tat moves amounted to a trade war between the world's two economic superpowers.