Ark Invest CEO Cathie Wood predicts that electric vehicles will undercut gasoline-powered cars economically within three years, citing China’s explosive growth in electric vehicles as a roadmap for the U.S. market transformation.
What Happened: Wood wrote on X that “China is pointing the way forward for EV sales in the U.S. Why? Economics, as usual. EVs costs and prices will drop well below those for ‘like-for-like’ gas-powered vehicles during the next three years.”
