### Comment:
Their mass model car has only just come out. Their Model Y, a bigger sales earner, will be even bigger. And they still have a truck to come. The operating profits will come and their energy network will help that immensely.

### REPLY:
I’m not discussing Tesla. I’m discussing the profitability of developing and manufacturing vehicles. If that is Tesla’s business model, then it’s margins will be subject to the same competitive pressure as all the other auto manufacturers that are currently trading at ~7 times earnings.

### END.