Cathie Wood Suggests GM and Ford EV Slowdown Could Boost Tesla's Market Lead
Cathie Wood, CEO of Ark Invest, criticizes GM and Ford for decelerating their electric vehicle (EV) production plans, suggesting this will benefit Tesla. Despite a slowdown in EV market growth, sales are still robust, with a 56% increase in the U.S. over the previous year. Wood argues that profitability in EVs requires scaling up, which GM and Ford are avoiding until they can ensure profits. Their reluctance to scale may result in Tesla and other committed EV makers gaining a larger market share.