Some good comments here and yes the P/E ratio is high. But the point a lot of long term analysts make is that Tesla is not just a car company. They are applying for licenses in Europe as Energy providers with Powerwalls being installed in increasing quantities. That market is much larger than Cars.
The true strengths of the Tesla Cars is the software (years ahead of others like VW by VWs own admission) and the charging network. Read any non biased review of competitors such as the Porsche Taycan, an awesome car but no easily accessible high speed charging network (The Taycan is a really nice car). The strength of Tesla as a whole is their batteries and the ability to actually make them rather than just talk about setting up factories.