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Former GM and BMW Executive Warns Apple: Your Car Will Be a "Gigantic Money Pit"
An anonymous reader writes: With rumors that Apple is not only moving ahead on its electric car initiative, but trying to accelerate its development, a former GM and BMW exec is giving a few words of warning. Bob Lutz appeared on CNBC and expressed his doubts that Apple has a fighting chance to make any impact on the auto industry. "And when it comes to actually making cars," Lutz said, "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. So I think this is going to be a gigantic money pit, but then it doesn't matter. I mean Apple has an embarrassment of riches, they don't know where to put the cash anymore. So if they burn 30 or 40 billion dollars in the car business, no one's going to notice."
The 80s was when Bob Lutz was an auto exec at Ford (1974-1986) and Chrysler (1986-1998) https://en.wikipedia.org/wiki/.... Not great years for American cars in my opinion.
I feel disinclined to listed to old, white CEOs about where the future of things are headed in just about any industry at this point. These guys, time and time again, have shown themselves to be more interested in their bottom line at all costs (take the recent VW incident) than trying to do anything creative, different, or forward thinking. For most, it's all about cutting costs, not building better products.