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Tesla’s Pivot to Autonomous Vehicles Could Reshape Earnings, Ark Predicts
Tesla’s Pivot to Autonomous Vehicles Could Reshape Earnings, Ark Predicts
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Tesla (TSLA 7.21%), the electric vehicle giant, faces mounting competition eroding its market dominance. While EV sales remain its financial backbone, CEO Elon Musk is aggressively diversifying into autonomous vehicles and robotics to future-proof the company.
Ark Investment Management, led by Cathie Wood, forecasts a seismic shift in Tesla's revenue streams. By 2029, 86% of Tesla's earnings could come from self-driving robotaxis, potentially catapulting its stock to $2,600—a 615% surge from current levels.
The transition hinges on regulatory approval for Tesla's full self-driving software, which remains unapproved for unsupervised use in the U.S. This bottleneck complicates the rollout of its planned Cybercab and ride-hailing network.
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