Former GM Boss Says Apple Should Refrain From Making Cars
Former General Motors(GM) boss, Dan Akerson has warned Apple to stay away from manufacturing their own car, instead he advised the Cupertino based giant to focus on making in-car technology (something like CarPlay). He also suggested that profit margins on cars are relatively meager in comparison to iPhone which is practically a money minting machine.
[quote text_size=”small” author=”Dan Akerson” author_title=”Fomer GM Boss”]
A lot of people who don’t ever operate in it(automobile manufacturing) don’t understand and have a tendency to underestimate. They’d better think carefully if they want to get into the hard-core manufacturing. We take steel, raw steel, and turn it into car. They have no idea what they’re getting into if they get into that.
Reports of Apple prepping its own electric vehicle surfaced last week. The report further stated that the Cupertino-based giant has a team of up to 1,000 employees working on a secret project code-named ‘Titan’. Anonymous sources also suggest the possibility of a car that resembles a minivan.
Meanwhile, earlier it was also reported that Apple’s market value stands at a whopping $745 billion, making it the world’s largest company in terms of market capitalization, could be a factor that prompted CEO Tim Cook to venture into a new territory.