>and they invest in building out new gigafactories based on the total net income they have
Oh look, another person making the claim capex comes off top line income.
Oh look, another person making the claim capex comes off top line income.
My point is that the relevant thing seems to be unit economics. They seem to make a profit on most models, and the ones that aren't profitable at the point of sale, seem to have the price of the credits factored in. What value would anyone get from looking at profitability ex-credits?
The automotive world is competitive, as seen by Tesla fighting for share as we speak. They need to make money sooner than later. Building cars is expensive, you can't scrape by. They should be crushing it right now, with little competition.
These financials don't look good to me, all I'm saying. YMMV.