I'm fairly convinced that if the US wouldn't protect it's internal markets so much, both Apple and Tesla would probably be gone in maximum 10 years. Maybe not gone as much as greatly diminished.
Apple, not so clear. Always expensive, but in the sense of only having a premium range and not catering to budget markets, they're priced like premium Android phones. While I see legal and political risks to Apple, I don't see market risks.
Some may parrot for tribal reasons, but there's a huge number who have a superficial knowledge and it simply doesn't occur to them how deep their ignorance is — tribalism is one way critics are equal to fans in Musk's case (and not just that Musk's fans are parroting his shallow criticisms of everyone else), but the DK part applies to all of us. Even me pointing at P/E ratios here is merely one step up the ladder from looking at the share price, it's not a deep analysis, just a santiy check.
It's not like the rest of the world is blind. Chinese companies are the champions of battery and solar panel manufacturing. Every major economy has major electric car manufacturers, China is ahead of everyone. Tesla's batteries are made in collaboration with LG Chem and someone else, I forgot who exactly.
Your point is that you're expecting Tesla to monopolize the global energy storage and usage markets? It ain't working, if that's the plan.
If reason returns, Tesla should probably be valued at less than Kia or Hyundai.
That's how you make meaningful models and value a business. P/E is meaningful only in context. Buying stocks based on PE is a very good way to lose money.
Mercedes has competent EVs, as do BMW, VW, Stellantis, Kia, Hyundai, etc and of course, all the Chinese brands.
Also we've hit a temporary plateau in the EV transition as except for Chinese brands, everyone else is mostly making expensive models plus the infra isn't always there, so it looks like we need to wait for 2027-2028 to actually start seeing those 18-20-25k cars a lot of the world is waiting (that's when EVs actually start massively outselling combustion cars).
More than that... Tesla is making all those batteries in partnership with battery companies. They're not some secret sauce.
(Those couple of "power walls" barely make a dent)
Given many Chinese car brands are wildly cheaper (in China) than Tesla models, I don't even buy that gigapress is even all that interesting for cost reduction.
It's not like they built the thing. They bought it, and if any other manufacturer thought it made sense for them they could just buy it too.
Of course it’s still massively overvalued especially if their sales collapse across most of the world this year (which seems to be the case).
They had a massive lead where a sub-Corolla quality build could sell for $60k+ because EV, and squandered it.
Go in the rest of the world in a phone shop and check out what they have in display (Xiaomi, Huawei, Oppo, etc).
https://www.oberlo.com/statistics/smartphone-market-share
And this with none of those companies selling in the US (I imagine due to legal reasons such as tariffs or related).
https://worldpopulationreview.com/country-rankings/iphone-ma...
Efficient markets at work, right?
Firefox mobile with uBlock is a game changer.
I'm on a 5 y/o Android and it's just dandy over here.
https://worldpopulationreview.com/country-rankings/iphone-ma...
Huawei embargo?
Similar story with Chinese EVs.
I don't know which exact protectionist measure is used, but it's there all right.
If out in the open sea there are 100 sharks and none of them ever enter a 100x100 square, I don't really need to see the barrier to know something <<is>> keeping them out.
Tesla would be dead the instant BYD hit the US shore. Total death. Like chapter 11 and fire sale.
They are always watching forwards.... :-) Now it's all about the value of the non existing...but coming soon robotics...And coming soon... but non existing, self-driving taxis.
Watch and see, how rational adults, can dream on while totally awake: https://youtu.be/HTesFrD7_Zw?t=18
[1] https://en.wikipedia.org/wiki/Tesla_Roadster_(first_generati... [2] https://en.wikipedia.org/wiki/Franz_von_Holzhausen
The whole thing is a pile of engineering WTF. The enormous wiper that leaves a huge amount of the windshield untouched, when it manages to work at all. The wheel support structures from other Tesla models being reused in a much heavier vehicle, leading to all those photos we've seen of Cybertrucks with snapped off wheels. The headlight "shelf" that collects snow and blocks the headlights. The air suspension system that takes forever to adjust when it's not failing altogether. The glue, oh the glue, so much glue.
It's just so uniquely bad!
Anyway, the Cybertruck is a uniquely fun to drive and nimble truck thanks to its four wheel steering and steer by wire. The F-150 Lightning feels like a clumsy relic in comparison. It's just an innovative vehicle with a bunch of early teething problems. The amount of hate it's getting is way overblown.
Okay but this is still a poorly considered design element, especially when a company is willing to sacrifice so much else to its peculiar aesthetics. I had no idea what the headlights looked like before this comment, but now I can't unsee them and I'm thankful my truck doesn't share those design "features".
The "headlights shelf" is the result of realizing that putting the headlights where the light bar happens to be would be ridiculously high and absolutely terrible for everyone else on the road. But the light bar couldn't move, there were too many concept drawings and renders that showcased the light bar. There was just too much "it has to look this way" pressure. So the headlights were crammed in a narrow space just above the bumper, meaning even a little snow buildup is enough to start blocking the headlights.
It's not enough to simply say "well the headlights are where they are and the bumper is where it is, so yeah there's a shelf but so what?" You should ask why these things are arranged as they are.
Look at the concept drawings and renders. The headlights are not there. The light bar was supposed to be the headlights. The location of the headlights is an "oh shit, what can we do about it?" reaction to a design that was fundamentally bad.