That means they have no future of consequence. Charging networks will be a mediocre low margin business and they'll be hyper plentiful with little to no serious

That means they have no future of consequence. Charging networks will be a mediocre low margin business and they'll be hyper plentiful with little to no serious moat. It'll be like owning gas pumps as a convenience store (yielding pennies on the dollar; the money will be in generation there, as it's in oil/gasoline in gas pumps). Batteries are and always will be a horrific business with low margins (just ask eg Panasonic and all the other players what their battery businesses are worth, especially compared to what Tesla has been making from automobiles).