Tesla-Bull Cathie Wood's Ark Invest Sees 95-100% Of All Vehicles On Roads As EVs By 2030, Predicts A 'Death Spiral' For Legacy Automakers
Portfolio Pulse from Anan Ashraf
Ark Investment Management, led by Cathie Wood, predicts that 95-100% of all vehicles on the roads will be electric vehicles (EVs) by 2030, particularly if robotaxis become widespread. Ark sees Tesla Inc (TSLA) as the leader in the potential robotaxi market, with a significant data advantage over competitors like Baidu and Waymo. Tesla is rolling out its full self-driving software, aiming for volume production of robotaxis by 2024. Legacy automakers may face a 'death spiral' if they cannot compete with the EV and robotaxi transition.
February 01, 2024 | 8:16 am
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Ark Investment Management's report highlights Tesla's leading position in the EV and robotaxi market, with a massive data advantage for autonomous driving technology. Tesla's progress in full self-driving software and plans for robotaxi volume production by 2024 are seen as key growth drivers.
Ark's bullish outlook on EVs and robotaxis, combined with Tesla's advancements in autonomous driving technology, suggests a positive short-term impact on TSLA's stock price. The report's emphasis on Tesla's data advantage and the potential 'death spiral' for competitors could increase investor confidence in Tesla's market position and future growth prospects.
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