, repeatedly citing the threats presented by the current macroeconomic environment, one marked by high interest rates that Musk said are hurting the company's sales.
While Keeney took note of the company's falling gross margins, she reiterated the fact that Ark is more interested in long-term payout. And its long-term bet has little to do with the current state of Tesla as an automaker. The reason Ark is so bullish on the idea of robotaxis is that, coming in cheaper than current ride-hail services, they could change and grow the ride-hail market. And the margins for robotaxis could be far stronger than those Tesla has been reporting as of late.
But even looking now at Tesla in the absence of robotaxi fleets, Keeney said the important point is that a Tesla Model 3 is"cheaper than the average car in the U.S."