It would be a “very poor idea” for Apple Inc. to invest in Tesla Inc., Berkshire Hathaway Inc. Chief Executive and legendary investor Warren Buffett told Fox Business on Thursday.
“I’d support whatever Tim Cook does, but I think it’d be a very poor idea to get in the auto business.” – Warren Buffet
Selling cars is “not an easy business,” with plenty of competition, no first-mover advantage, and you win one year and lose the next, he said. “It does not give you a permanent advantage,” Buffett said.
Berkshire is a major investor in Chinese electric vehicle company Byd Co. Ltd.