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.