TECH - Look Closer: Cathie Wood's Ark Analyst Explains Why EVs Seem To Be 'Entering Not Ending A Traditional Adoption Curve' | Benzinga
Even as Wall Street bakes in a slowdown in electric vehicle adoption, Cathie Wood‘s Ark Investment Management asserted on Wednesday that the appeal for this vehicle category remains strong.
Contrary Signal: Despite widely reported deceleration in sales growth from 113% in 2021 to 59% in 2022 and 28% in 2023, Sam Korus, Director of Research Autonomous Technology & Robotics at Ark, stated that this trend does not ring alarm bells for EVs.
Market share data, according to Korus, offers a more insightful perspective on the health of the EV market than growth metrics. He noted that sales of gas-powered vehicles peaked in 2017, subsequently displaced by hybrids, plugins, and fully electric vehicles. Between 2021 and 2023, EV sales nearly doubled from 4.8 million units to around 10 million units, increasing their ...