That may be pessimistic; OpEx doesn't scale linearly with production and it also offsets the first X amount of production.On 300,000 deliveries profits were about $3 billion last qtr.
On 3 million deliveries in the near future, profits may reach $30 billion.
That makes it a forward P/E of 22ish within 2 years .
3 million deliveries is a small number when aspiration is 20 million deliveries.
10x production could yield much more than 10x net profit (depends on ASP and gross margin, of course)
Fake numbers:
$10 profit a car
2,000 in opex
Sell 300 cars, net $1,000
Double prod, 50% opex increase
3,000 in opex
Sell 600 cars, net $3,000
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