That would be 25% gross margin. That means before they've paid salaries and recurring expenses. Nonetheless, for autos, that is world class. Last time I checke

That would be 25% gross margin. That means before they've paid salaries and recurring expenses. Nonetheless, for autos, that is world class. Last time I checked, only Toyota had higher gross margins. Note that it's also before they've paid interest or principle on loans/bonds, before their capital spend (new factories & mfg. equipment). This type of spending is investing in future profits, such as building CyberTruck, adding capacity for more Model Ys, adding capacity for charge stations, etc.