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.
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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.
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