It does seem to be out of date, but doesn't change the thrust of my argument. With the advancements of battery technology by Tesla, would you say that Tesla's b

It does seem to be out of date, but doesn't change the thrust of my argument. With the advancements of battery technology by Tesla, would you say that Tesla's battery business (which is mostly IP and research labs) is worth more than entire Panasonic's business? I say that's highly unlikely: building a good research lab and coming up with a good new battery design is worth a lot, but not tens of billions of dollars. Even if it was worth as much as entire Panasonic, it would still be <5% of Tesla's market cap. As such, I can't see how Tesla's battery business would explain its huge market cap.