Former GM Vice Chairman: Apple Car a ‘Gigantic Money Pit’

CNBC:

Former GM Vice Chairman Bob Lutz discusses why Apple shareholders shouldn’t be excited about the company’s development of an electric car.

His argument: no one has “made a nickel” to date selling electric cars, and Apple has no experience in the car business. In other words, it’s the auto industry version of “PC guys are not going to just figure this out. They’re not going to just walk in.”

★ Monday, 21 September 2015