Tesla and General Motors have been quietly duking it out over the past few months. As Chevrolet took the stage to unveil the Chevrolet Bolt concept vehicle at NAIAS 2015, a pure electric vehicle, Elon Musk, Tesla’s CEO, was ready to fire back stating he will render the Bolt “a dud.”
This time, it isn’t actually GM preaching skepticism, but a former exec we all know: Bob Lutz. Lutz recently appeared on CNBC’s Squawk Box dismissing Tesla’s entry into the home battery market. He argues, “[the battery] is greatly overvalued because having batteries as backup storage has been around for hundreds of years. I can’t understand the fascination with this.”
Lutz also took a shot at Musk’s habits of ping-ponging around the industry, stating he get’s excited over one project, and moves onto the next, forgetting about his “infinitely small” automotive company.
“The company is also hemorrhaging cash,” he said
It remains to be seen if Musk the dreamer will flourish and, despite Lutz’s criticism, Tesla stock has risen 25 percent since the home battery announcement.
Do you think Lutz is right? Or, is he protecting his personal interests with VIA Xtrux? Talk to us down below.