According to Mining News Pro - Tesla Chief Executive Elon Musk said on Friday that the electric carmaker has never considered investing in Swiss commodities group Glencore.

“No. We’ve never contemplated investing in Glencore,” he said, speaking at an investor conference in New York.

The Financial Times recently reported that Tesla had held talks on taking a 10-20% stake in Glencore, but the discussions ended with no deal reached.