Wood said that Tesla is still competitive relative to China rival BYD based on metrics like range and power for a given price. BYD has overtaken Tesla in sales, topping US$100 billion last year.
Cathie Wood’s Ark Investment Management LLC remains bullish on Tesla Inc. and expects the stock will hit US$2,600 in five years, or almost 10 times its current price.
Wood said in an interview with Bloomberg TV that Tesla’s robo taxis will account for 90% of its value over that time. Tesla has initiatives in humanoid robots that Ark hasn’t even factored into the price prediction, she added on the sidelines of the HSBC Global Investment Summit in Hong Kong on Tuesday.
