Just about every analyst, article and some longs are concerned at Tesla's valuation. Yes, the stock is expensive looking back, based on balance sheet, income statement, etc. What these folks are missing in the tremendous leverage that the technology, manufacturing model and SC network will enable in the future. Over time, Tesla will keep improving the battery tech with lower costs and higher energy density... there is nobody close. The cost/KW-hr will fall below $200 if it has not done so already. A 85 KW-hr pack will cost around $10,000.
The rest of the car? The electric auto design is very simple... nothing like ICE. With automation, it will be much cheaper than a comparable ICE auto. Plus the simple design is suitable for a hi level of automated that is not possible with ICE autos... they have complex ICE, transmission, pollution control, assembly processes, etc.
In most manufacturing operations, until volume kicks, they loose money. Look at the PE of Boeing or even Ford during the recessions. Most loose money, if they do not it is over 100. At least with Tesla sales are expected to grow hi triple digits in 2013-2014 and even 2015-2016+ with Model X.
In terms of the cost of energy worldwide, it is a 1/10 of comparable gasoline ICE. I am not talking about Norway where a 16 US fill-up costs $160 and charging an 85 KW-hr pack may cost $3 if not free in public places. That is a disruptive tech and business model!
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