Paywall so didn’t read. But I think a lot of people look and Tesla and think ”wow so easy, just make electric cars and BOOM huge market cap!!!”. They fail to understand how hard it was for Tesla to do what they did and how good Tesla had to be in order to make it. Nikola is not Tesla. VW is not Tesla. Toyota is not Tesla. They cannot just decide to make EV and suddenly get 500B market cap, it’s not that easy. Tesla has attracted a team of elite engineers, organized them to work much more efficiently than other teams, made them work more hours than other teams, had a clear and brilliant long term strategy, had access to huge amount of capital and still they almost failed. And this was without having Tesla as competition... GLHF for newcomers! Maybe with support of the Chinese government it is possible, but for everyone else it would be a decade of all kinds of hell.
Tesla did a combination of getting things right and being very lucky. They had a fanatic fan base who were willing to put up with a lot of teething problems that would have sunk another car maker. Nobody following in Tesla's footsteps has the leeway Tesla got, except possibly Apple with their strong fan base.
Having a stock that went to the stratosphere helped too, but little of that benefits Tesla directly. It did when they issued more stock, but otherwise it's only helped other investors. But the high stock price did help keep them afloat through rough times.
Any serious stock analyst would look at their price per earning ratio and say it's higher than it should be. Tesla is among the highest P/E stocks in the world. For a company that is innovating and growing fast, a bit high P/E ratio is called for, but Tesla's is high even in that realm. Tesla's fans keep the stock jacked up. Great for people who invested early.
Ford production of Mustang Mach-E exceeds gas models
The automaker has passed a milestone in its conversion to electric vehicles.www.autonews.com
“Mach-E has been much stronger than we expected, so we’ve totally run out of stock,” Farley told reporters at the introduction of the electric F-150 Lightning pickup May 19. “Mach-E is going global as we speak, but in the U.S.,” the wait for a Mach-E “is months.”
You make a compelling BEV and it is automatically backordered. Imagine that.
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They are probably getting into limits from their battery supply. The Mach E is an appealing car, it's one of the few non-Teslas with over 240 miles of range and it's a vehicle layout that is popular. Also Ford is not a luxury nameplate for those who don't want to be seen as a snob.
The trick now is to scale up production of batteries to match demand growth.