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Yoni Heisler
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In the wake of numerous reports pointing to Apple's interest in developing an electric car, auto industry incumbents haven't exactly been all that welcoming. Broadly speaking, a number of current and former auto industry executives have loudly proclaimed that Apple, with no true car experience to speak of, simply doesn't have what it takes to design, develop and manufacture an electric car that can compete with more established companies.
You might recall, for instance, former GM and BMW executive Bob Lutz taking to CNBC and exclaiming that "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 then added that Apple's car initiative will amount to nothing more than "a gigantic money pit."
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Via BRG - Boy Genius Report