Former GM exec calls rumoured Apple Car ‘a gigantic money pit’

Despite having no apparent personal knowledge of an Apple-built electric car, former General Motors vice chairman Bob Lutz proclaimed this week that shareholders should be “very upset” that Apple may be eyeing an entrance into the automotive business.

“When it comes to actually making cars, there is no reason to assume that Apple, with no experience, will suddenly do a better job than General Motors, Ford, Volkswagen, Toyota, or Hyundai,” Lutz said. “So I think this is going to be a giant money pit.

This from a guy who’s a known climate skeptic and was VC of Global Product Development leading into GM’s worst financial period and government funded bailout. Love it.

Even if Apple aren’t making an electric car having someone like Lutz feel the need to dog on it shows you just how scared these dinosaurs of industry are.

Source: Former GM exec pans rumored ‘Apple Car’ sight unseen, calls it ‘a gigantic money pit’