In a recent interview, Cathie Wood, CEO of ARK Invest, admitted that Tesla has faced brand damage due to CEO Elon Musk's political activities. While some customers have boycotted or stopped supporting the brand over Musk's actions, there is also a segment of the population that supports him. The impact on Tesla's sales has been particularly observed in Europe where delivery drops are noticeable. Wood believes these challenges are temporary and emphasizes Tesla's strong prospects in the future, especially regarding the Robotaxi business.
"I think he feels he has a duty to the country to make sure we don't 'blow ourselves up' with these deficits. Brand damage? Yes. I do not believe [it is long-term]."
"Tesla, we believe, will have a lock on the Robotaxi business in the U.S., and we believe they are going to proliferate through the United States, especially if we remove regulation from a state level to a federal level, which we believe will happen."
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