[marcosdumay]

> a modest PE on TSLA would say "I expect robotaxi to fail."

No. Just having competition is enough to destroy the expectations on TSLA.

And realistically, they are abut last on that race, being thrown out of track about a decade ago and never managing to make anything work since then. So, yeah, betting on no competition is a very weird option.

[JKCalhoun]

Good point. With BMW, Lexus, Audi, Mercedes, Porsche — all with luxury EV's — Tesla really is looking like an also-ran.

I'm not in that circle of clientele though so I don't know: are any of these now seen as the luxury electric car?

[marcosdumay]

I'm really not in that market :)

But the market of luxury cars isn't enough to sustain a company with the valuation of Tesla. If interest rates ever stay non-zero, they will need to take almost the entire cars market worldwide, or something else with similar size.