It's no wonder. Tesla has floated above and below the entire market value of Ford. Ford makes more cars in a few days than Tesla can make in a year. Tesla has never made a profit. Ford makes billions a year. The market value of Tesla is pure speculation, the market value of Ford is based on profitability.
Tesla's biggest real value was the Obama era fuel economy requirement of 54 miles per gallon CORPORATE AVERAGE fuel economy starting in 2023. The only technically possible way to meet that would have been to average a lot of EVs in with conventionally fueled vehicles. Obama's regulations treated EVs as zero fuel consumed, allowing manufacturers to divide a fixed amount of fuel by a bigger total number of vehicles. That's all gone now.
In fact, EVs are almost totally powered by evil coal at electric power plants.
It’s no wonder. Tesla has floated above and below the entire market value of Ford. Ford makes more cars in a few days than Tesla can make in a year. Tesla has never made a profit. Ford makes billions a year. The market value of Tesla is pure speculation, the market value of Ford is based on profitability.
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I think of what a comparison between Amazon and Walmart would have looked like 20 years ago.