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."

Comments

It won't be.

[Virtucon]

Apple and BMW won't make it unless they know that there's a market to be milked complete with rounded corners. There are enough idiots out there who'll buy any product from any vendor, Apple and BMW just happen to have enough loyal fanbois to make this a marketable product.

Car only compatible with iStuff

[danbob999]

iTires, iOil and iGas/iElectricity. Walled garden again.
No thanks, I will stick to the actual car brands.

Re:That's what Nokia, Moto, and Microsoft said

[sycodon]

Click the Stop button: Are you sure you want to stop the car?

Click the Go button: Spinning circle.

Click any button: This control is out of date and must be updated. Update now?

Click any other button: Some random sound that means nothing to you and nothing else happens.