The market values Tesla like a car business that is growing ~50% per annum.
> 10 years from now the margins and capital expenses of electric car business will be like the existing ICE car business.
Tesla already has margins similar to existing car companies.
> So this is Tesla saying: "Yeah, our financials are starting to look like a normal car company, but we've got this thing that you should keep value us even more like a tech company than you do today."
Yes, they're saying that, but the market is obviously not buying it.
> 10 years from now the margins and capital expenses of electric car business will be like the existing ICE car business.
Tesla already has margins similar to existing car companies.
> So this is Tesla saying: "Yeah, our financials are starting to look like a normal car company, but we've got this thing that you should keep value us even more like a tech company than you do today."
Yes, they're saying that, but the market is obviously not buying it.