News that Apple considered buying Tesla last spring drove shares higher today it seems. Early last year shares traded at $30 to $50 per share. Tesla must not have been a good value to them then because they didn't pull the trigger. What does that say about a valuation of $203/share? If Apple buys TSLA now APPL shareholders should be outraged. Not gonna happen. Way overvalued. Model S is a great car. Its not a $25B car.
With a market cap near $20B now, Musk would probably not sell for less than $30B. That means GM would be paying $30B for a money losing company. TSLA has the Model S, and is developing the Model X and Model E. GM already has a Model E, its called the Chevy Volt. Its not a bad car as electric cars go. Musk tells shareholders he expects to sell what, 400,000 Model E vehicles/yr? I don't know what the exact figure is. GM doesn't sell close to that number of Chevy Volts not because its a poor model, but because the demand is not there, it never will be.
Therefore, GM would be paying in the ballpark of $30B for the rights to build a Model S. Seems quite pricey to me. GM has thousands of engineers who could have designed their own luxury electric car years ago if they thought it was a viable business model.