alt Hacker NewsThere are a couple good reasons for Tesla to do that, which don't apply to most carmakers.
One is that their stock is priced for extreme growth, so they need to be in businesses that can justify that. Cars are not that kind of business. They were for a while when Tesla was much smaller and the only decent EV maker, but not anymore. For any carmaker with a typical carmaker PE, cars can be a fine business.
Tesla's other problem is that Elon did serious damage to their brand, and they're not even getting the growth that other EV makers are getting.
It's priced for extreme growth cause that's the way the CEO and board want it to be. They don't want to make cars and sell them to consumers for a small profit cause that's not an extreme growth opportunity so the focus is elsewhere.