I won't speak to profit, but battery performance per dollar has been improving at a fast exponential clip for the past couple decades, which is one of the large

I won't speak to profit, but battery performance per dollar has been improving at a fast exponential clip for the past couple decades, which is one of the largest costs of an EV. An EV drivetrain is also far, far simpler. Fewer parts, and less complexity in those parts. No clutch, gearbox, carburetor, differential, starter, pumps, exhaust… A modern ICE car is an absolutely unbelievable engineering marvel, but unless battery progress unexpectedly stalls there's just no way they can keep up in price or reliability with EVs.