It doesn't look rational that Tesla's valuation could be more than double that of two large automotive manufacturers, overnight.
As cool and sustainable as electric-powered cars sound, there is still a certain amount of runway before this eventually (if it does) go mainstream. In 2014, Nissan had initially targeted 1.5 million electric car sales by 2020. Today, total accumulated unit sales are just about 400,000.
Even so, for electric vehicles to dominate the market, that would require a tectonic shift in the demand and supply of oil globally. Until the cartels figure a way to decouple from this economic dependency, vehicles powered by traditional energy sources will likely remain a core part of the automotive sector. Hybrids however are an interesting case.
Investors are claiming that Tesla's revenue could possibly reach USD 1 trillion in 10 years - that's a really far horizon to forecast. And that's saying so much can happen in between...