Here is a more realistic view of the Natural Demand and potential BEV supply for Automobiles globally
And if we allow Tesla 20% Global Market Share, which would be down from 28.2% currently and 22.5% in 2019 . . .
. . . then we could start with a Base Case valuation that looks something like this

- just based on the simple Automobiles Business

Current Market Cap is about $390 billion
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