It’s a zero chance. A stock buyback if for a company that has run out ideas to invest money in useful ways. Tesla has like 50 irons irons in the fire that will make good use of cash in the near future and uncertain economic times always reward those with cash reserves. Buybacks and dividends are a sign that maybe the company is no longer worth investing in for growth.
Its not that simple.
If I've learned anything from big complex energy projects, its that actually BUILDING stuff is horribly complex, slow, and unpredictable. The process of permits, approvals, permission, and then the logistics and scheduling makes something like building a car factory or a megapack factory scarily unpredictable in terms of timescales.
Tesla cannot just spend $10billion on new factories by clicking copy-paste. Every site is different, every legislature is different, every workforce is different.
Its very rare that a company is so staggeringly successful that they literally cannot spend money fast enough, but Tesla seems to be one. I do actually think that Elon is expanding Tesla as fast as is humanly possible. You cant magic 10,000 engineers by clicking fingers, and certainly not in the location you want.
If Tesla thought they could go faster, I'm sure they would. Other companies would buy out some rivals, but I'm glad Tesla don't burden themselves with inefficient purchases of failing businesses.