Because they make lifestyle products, not good EVs.
Elon said investor are mistaken. It’s not an ev company. Tesla is an AI company.
Don’t you love the idea of Tesla using the car you own to do cloud computing without paying you?
Wait is he really doing that?
No way it can be an AI company, clearly, because if it was an AI company that would mean Musk is intentionally diverting resources and talent from Tesla’s core business to build xAI. Shareholders would hate that!
Jeeps and 4runners are life style products. A tesla is about as much life style as an Apple laptop.