Gil Luria from D.A. Davidson asserts that Tesla should be categorized as an automotive company, stating that over 90% of its revenue and profits come from cars. He argues, "If it looks like a duck (>90% of revenue from cars) and quacks like a duck (>90% of profits from cars) it might just be a duck (a car company)," indicating that classification should reflect their dominant business model.
Deutsche Bank's Edison Yu challenges the traditional view of Tesla as merely an automotive company, stating, "At the core, we do not see Tesla as an automaker but rather a technology platform attempting to reshape multiple industries, deserving of a unique type of valuation framework." His perspective suggests a broader understanding of Tesla's role in the tech sector.
Baird analyst Ben Kallo highlights the increasing significance of Tesla Energy in the company's overall impact and performance, noting that as this division grows, it will likely influence Tesla's stock valuation more significantly, suggesting a shift in how investors might perceive Tesla's business model in the years to come.
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