How are they a Tech company? Is every car company with in-house developed self driving a tech company? Does that mean eventually most car companies will be tech companies and the term car company will fall out of use?
And other car companies are not? The modern internal combustion engine is a technological marvel, and getting better every year.
Tesla has a bigger market cap than Ford, isn’t profitable and is always one deal alway from insolvency. The value is it’s tech and potential.