ELON MUSK: It would be 'great' if Apple got into the car business

Elon Musk thinks competition from Apple would be “great.”

On Tesla’s first quarter earnings conference call on Wednesday, Tesla CEO Elon Musk said that not only would it be “great” if Apple got into the car business, but that the company isn’t seeing engineers leave the company for Apple.

In the last several months, reports have said that Apple is building a car, which some analysts think could compete with Tesla’s electric car offerings.

But Musk doesn’t see Apple as a threat, even though some Wall Street analysts think a car from Apple could be the new iPhone.

In 2014, Tesla made all of its patents public, a move designed to spur the broader electric car industry. And the broad message here was that more activity in the electric car industry, even in the form of competition, is a good thing for Tesla.

Moreover, since Tesla hasn’t seen its engineers defect for Apple, Musk is still excited about the world’s biggest company potentially entering the industry.

Yahoo’s Justin Hyde noted that on the call, Musk said five times the number of people have moved from Apple to Tesla as have gone the other way. And this recruiting momentum, Hyde adds, is a big part of the Silicon Valley culture, and as long as that momentum is on Tesla’s side, they’re likely to feel confident with their position as a company.

As for the first quarter, Tesla reported a smaller than expected loss, the company maintained its outlook for vehicle deliveries this year, and it said that it remains on track to deliver its new Model X SUV in the late third quarter.

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