Other OEMS are loaded with debt which reflects in their valuation, if measured in Enterprise value Tesla vs OEMS- the numbers doesn't give so much headroom as y

Other OEMS are loaded with debt which reflects in their valuation, if measured in Enterprise value Tesla vs OEMS- the numbers doesn't give so much headroom as you suggest. But yes, right now their valuation is a bit high, but reflect on this ; Tesla is in a net cash position, have already the infrastructure and technology to make electric cars. They now have to replicate/duplicate, create new models and markets, but they have a very solid footing within the EV space. The other OEMS is laden with debt which was used to build outdated factories and invested in technologies which suddenly have a payback period in the singles, instead of decades - and they still must invest heavily into EVs to maintain their market share and service their debt. The incumbent OEMS are having to run the gauntlet of the valley of death; Falling demand for gas/diesel while at the same time investing heavily into EV production. While beeing loaded up with debt.