Porsche Taycan not seen as Tesla threat

|About: Porsche Automobil Holding... (POAHF)|By:, SA News Editor

ARK Investment Management says it disagrees with the assertion that new competition is bad news for Tesla (NASDAQ:TSLA) as part of its review of the Porsche (OTCPK:POAHY) all-electric Taycan.

"Taycan’s success would be good news not only for Porsche but also for the EV industry, and the world. The toughest sale will be to convince auto shoppers to buy their very first EVs. To sell the Taycan, Porsche must convince its customers that EVs are better buys than its gas-powered cars," notes Sam Korus.

In comparing the Taycan Turbo to the Model S, Korus points out that the +$150K Taycan doesn't outperform the +$99,900 Model S Performance version (top Taycan speed 162 mph vs. 163 mph for the Model S, Taycan range 250 miles vs. 345 miles for the S, Taycan 0-60 mph in 3.0 seconds vs. 2.4 seconds for the S).

Ark is a long-time Tesla proponent.

Shares of Tesla are up 0.57% premarket. Porsche is +0.90% in Frankfurt.

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