Apple Inc. had nothing to say about a Wall Street Journal report last week that it plans to have an electric vehicle ready to go by 2019. But Bob Lutz did.
According to The Journal, Apple has designated an EV as a "committed project" and plans to triple the size of the project's 600-person team. The secretive technology giant has not confirmed it is working on a vehicle prototype, but it has hired dozens of experts on electric cars and autonomous driving from companies such as Mercedes-Benz and Tesla.
In August, Reuters reported that Apple was developing a car and studying self-driving technology. But Lutz, the former General Motors vice chairman and product development czar, says none of this makes sense for Apple.
Interviewed by CNBC, Lutz said: "Apple has no experience. There's no reason to assume Apple will do a better job than General Motors, Ford, Volkswagen, Toyota or Hyundai. I think this is going to be a gigantic money pit."