“木头姐”定调：特斯拉(TSLA.US)不再仅是汽车公司 Robotaxi才是估值引擎

Core Viewpoint - Ark Invest CEO Cathie Wood emphasizes that Tesla is evolving beyond just an automotive company, with increasing investor focus on the "Robotaxi opportunity" despite pressures in the electric vehicle sales environment [1] Group 1: Tesla's Business Model Shift - Tesla is transitioning from a traditional automotive hardware model with a gross margin of 15% to a more SaaS-like model focused on Robotaxi, which has a profit margin closer to 70% to 80% [1] - Analysts are beginning to adjust their perceptions of Tesla as they incorporate the Robotaxi business into their models, recognizing it as more than a conventional car manufacturer [1] Group 2: Competition and Market Dynamics - Wood notes that the expansion of Tesla's business in the autonomous driving sector is happening faster than many expect, and competition with companies like Waymo is noteworthy [1] - The proliferation of autonomous taxis may occur more rapidly than anticipated, especially with potential federal legislative support rather than state-by-state regulations [1] Group 3: Investment Position - Despite Ark Invest reducing its holdings by 86,139 shares of Tesla, the stock remains the largest position in several Ark funds, with approximately 1.7285 million shares still held, accounting for nearly 10% of the fund's assets [1]