Dan Akerson, retired CEO of General Motors, said Apple Inc. should steer clear of the business of making cars, though a push into automobile electronics would be a better move for the iPhone maker.Apple shares rose to a record on Tuesday after people familiar with the matter last week said the technology company is working to develop its own electric car, rocking the automotive industry.
“I think somebody is kind of trying to cough up a hairball here,” Akerson said in a telephone interview. “If I were an Apple shareholder, I wouldn’t be very happy. I would be highly suspect of the long-term prospect of getting into a low-margin, heavy-manufacturing” business.
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