It's fair to criticize Tesla's valuation, but they have recently become profitable, even excluding emissions credit sales. The problem most other manufacturers

It's fair to criticize Tesla's valuation, but they have recently become profitable, even excluding emissions credit sales. The problem most other manufacturers have is that EV sales undercut their ICE sales, and also undercut their customer's most profitable segment, vehicle repair/service. It's going to be hard for them to transition from ICE to EV.