I swear I didn't reverse engineer this. I started from unit volume, ASP and COGS estimates to arrive at 2031 EPS estimates and discounted back to today at 15% and the lower end of today's price range estimate ended up $2 from Friday's close
Unit volume projections that the model is built up from
Assumes Tesla continues to grow EV market share % to peak in high 20% in the middle of the decade given their strong lead, then fading some later in the decade as other catch up
And assumes that EVs almost completely replace combustion engines for new sales by 2031
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