Similar statements are a staple of what people say about growth companies. Investors seem to think the prospects are way better. Your mileage may vary.
VW, the third-largest car manufacturer in the world, sold 11 million cars last year (27x Tesla), for ~$280bn revenue (11x Tesla) and ~$19bn profit.
VW made 1 out of 8 of the ~77 million cars sold in 2019.
Tesla's valuation is currently 6x that of VW's. So how exactly are investors picturing Tesla's growth here? To justify this insane evaluation, they'd need to utterly dominate the market by sales, and with an incredible profit margin.
This isn't driven by investors. This is pure speculation.
They do have more than just the cars. Tesla says they expect their energy to business to eventually surpass the EV one. They have also an insurance company.
I don't have any Tesla stock.