[toomuchtodo]

Tesla still has a ways to go in manufacturing experience, based on the build quality of our Teslas (S, X, Y). Perhaps the value isn't in the existing manufacturing machinery and building capacity, but in a workforce that already has experience building products with a focus on quality. You want those folks building Teslas. A merger with an established automaker (VW?) would be similar to an enormous acquihire by Musk (with the capital markets backing him).