Confident Tesla welcomes Apple competition in electric car market

Tesla Motors CEO Elon Musk said he does not fear Apple’s move into the electric car market, seeing the added competition as a great thing for the industry.

It follows reports Apple is preparing an electric, self-driving car for mass market by 2020. The car would be Apple’s first major venture outside of technology, and the newest product after the Apple Watch launched earlier this year.

Rumors began a few months ago, when Tesla and Apple were reportedly in a poaching war for engineers relating to cars and software. Musk also confirmed that poaching battle seems to be going Tesla’s way in Silicon Valley, even with Apple’s war chest of cash for available hands on deck.

Tesla has been trying to welcome the competition for years now, adding free Super Chargers and opening them up to third-party vehicles, alongside releasing all patents for free to push electric car adoption by mainstream providers.

Even though Musk has shown some bravado when it comes to his own company’s ability to outclass the competition, he clearly wants to see more manufacturers give electric cars a try and make them look as good as gasoline cars.

Tesla reported a decent quarter with lower profit loss than expected. It has managed to sell 38,000 Tesla Energy Powerwall’s in the first week, showing the large interest in the home battery solution for US residents.