Are you sure that TSLA is overvalued? Right now they are performing pretty well, for their niche.
I mean it will be overvalued if Toyota gets its act together - if the competition can produce reliable electric cars for the mass market. I suspect that this is not quite happening due to some real technical problems. A mass market electric car would need to handle some real problems with battery depreciation/range loss. I am not sure if that is happening, right now.
I found quite a range of opinions on battery depreciation, not quite sure who is right (never owned one):
I mean it will be overvalued if Toyota gets its act together - if the competition can produce reliable electric cars for the mass market. I suspect that this is not quite happening due to some real technical problems. A mass market electric car would need to handle some real problems with battery depreciation/range loss. I am not sure if that is happening, right now.
I found quite a range of opinions on battery depreciation, not quite sure who is right (never owned one):
https://www.carwow.co.uk/blog/do-electric-cars-depreciate#gr...
https://www.cars.com/articles/your-guide-to-ev-batteries-pre...
https://www.motorbiscuit.com/how-long-will-an-ev-battery-las...