That's a fraction of what a regular ICE car brings in. Unless you include a battery swap an EV is unlikely to be able to command the same maintenance costs over its lifetime. That's actually one of the big pro-EV arguments, isn't it?
And having exclusivity on service revenue doesn't necessarily have to work in their favor if the network of garages is not extensive enough. People also want convenience and if you're locked in to a service network that can't deliver it you may only do it until the next purchase. There's only so much exclusivity you can impose until the market starts to reject you locking them in or you cross a legal boundary (think "right to repair" type discussions).
I think the valuation is based on the expectation that the trend continues, Tesla will stay market leader for EVs. If that's the case and they maintain or expand their lead as the market grows than the current valuation might even be too small. If not it will probably stabilize somewhere lower, just like any other car manufacturer not at the top today.
That's a fraction of what a regular ICE car brings in. Unless you include a battery swap an EV is unlikely to be able to command the same maintenance costs over its lifetime. That's actually one of the big pro-EV arguments, isn't it?
And having exclusivity on service revenue doesn't necessarily have to work in their favor if the network of garages is not extensive enough. People also want convenience and if you're locked in to a service network that can't deliver it you may only do it until the next purchase. There's only so much exclusivity you can impose until the market starts to reject you locking them in or you cross a legal boundary (think "right to repair" type discussions).
I think the valuation is based on the expectation that the trend continues, Tesla will stay market leader for EVs. If that's the case and they maintain or expand their lead as the market grows than the current valuation might even be too small. If not it will probably stabilize somewhere lower, just like any other car manufacturer not at the top today.