> This is why Tesla is valued higher than GM, Daimler or pretty much any other car company. I have heard a different theory from a friend working in finance. H

> This is why Tesla is valued higher than GM, Daimler or pretty much any other car company. I have heard a different theory from a friend working in finance. He said that most of a GM/Toyota car is made by suppliers, but Tesla does almost all the components of its cars by itself, capturing all the profits. He said that most car manufacturers are actually only car assemblers. Similarly, there are many PC brands like Lenovo or Dell, but they have to share their profits with suppliers like Intel/Nvidia/Samsung/Microsoft. Apple, also captures a lot of profits because they do not only assemble, they also make software and hardware.