As of 2025, Tesla is not just a company that produces electric vehicles. It has established a unique position on the global technology scene by making significant breakthroughs in areas such as artificial intelligence, autonomous driving, energy storage, humanoid robots and robotaxis.

Investors' perspectives on Tesla are divided into two: One group argues that the company's price/earnings ratio is still very high and calls it a "bubble". The other group claims that Tesla's technological infrastructure is unrivaled. However, Tesla's true potential lies beyond these two views, and has a more complex and deep structure.

Tesla's price/earnings ratio is above 150. This is quite high according to classic financial evaluation criteria. However, what sets Tesla apart from others begins right here:

The company's artificial intelligence infrastructure, self-developed chip architecture, autonomous driving systems and vertically integrated production power make it insufficient to analyze it only with balance sheet data. Tom Lee has a nice analogy here; Just as we cannot evaluate a Da Vinci painting with only the cost of paint, brushes and labor, we cannot evaluate Tesla with traditional valuation methods.

Tesla's different departments have become strategic pieces that increase the company's value. The energy storage unit continued to grow with revenues exceeding $10 billion in 2024. Autonomous driving and robotaxi projects could open the door to new markets worth billions of dollars.

Elon Musk is at the center of Tesla's vision. However, this vision is not limited to Tesla. Musk's initiatives such as SpaceX, Starlink, Neuralink and X-AI offer Tesla significant strategic advantages. This multi-layered structure makes Tesla not just an automobile manufacturer, but a technology platform that builds the future.

Today, Tesla's market value is approximately $1 trillion. However, many analysts believe that the company can exceed this value in the long run. Because Tesla offers an integrated structure that invests not only in today's needs but also in the technologies of the future. There is no other company that works so harmoniously in so many different areas.

However, there has been a new risk factor that could affect Tesla’s future in recent weeks: the political tension between Elon Musk and US President Donald Trump.

Musk has harshly criticized Trump’s budget and tax package called “One Big Beautiful Bill.” This package aims to end some subsidies provided to electric vehicles. Musk, on the other hand, opposed this and announced that he was establishing a new political party called the “America Party.” Trump reacted harshly, threatening to cut off state support for Tesla and question Musk’s citizenship status.

This political tension has caused serious fluctuations in Tesla shares. Following the discussions, the share price fell by 6-7%. The total value loss since the beginning of the year has reached 25%.

Elon Musk’s political outbursts are increasing the vulnerabilities that Tesla’s visionary structure faces. In the upcoming period:

• $1.2 billion in subsidies may be at risk.

• Regulatory processes may become difficult due to political pressures.
• Investor confidence and customer loyalty could be negatively affected by Musk’s political stance.

As a result, we are entering a period where Tesla’s fate is no longer determined solely by technology and innovation, but also by political factors.

Therefore, when evaluating Tesla, it is necessary to look at the bigger picture around the company, not just vehicle sales.

The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are provided within the framework of the investment consultancy agreement to be signed between brokerage firms, portfolio management companies, banks that do not accept deposits and customers. The comments in this article are only my personal comments and these comments may not be appropriate for your financial situation and risk return. For this reason, investments should not be made based on the information and comments in my articles.