What do we learn from the data in case Exhibits 3 and 4? Is Teslas executive team too overconfident about the companys ability to compete successfully against all of the many new electric vehicle models that the major automobile manufacturers have recently introduced and are scheduled to introduce in the remainder of 2020 and in 20212022?

EXHIBIT 3 Sales of Best-Selling Plug-in Electric Vehicles in the United States, 2014-2019 2014 2015 2016 2017 2018 2019 13,264 4,191 214 2,474 18,223 579 28,896 14,006 1,764 20,963 21,315 23,297 27,060 11,230 17,300 30,200 25,202 17,269 139,782 27,595 26,100 18,019 25,745 14,715 18,602 8,074 8,664 7,062 11,550 9,750 Best-Selling Models Tesla Model 3 Toyota Prius PHV/Prime Tesla Model X* Chevrolet Bolt EV Tesla Model S Nissan Leaf* Honda Clarity PHEV Ford Fusion Energi BMW 530e Chrysler Pacifica Hybrid Audi e-tron Chevrolet Volt Volkswagen e-Golf BMW 13 Kia Nero PHEV All Others United States Total Worldwide 15,938 9,632 3,772 4,597 158,925 23,630 19,225 16,418 14,100 12,365 10,728 7,524 5,862 5,723 5,369 4,910 4,863 4,854 3,881 31,151 329,528 2,209,831 18,805 15,393 24,739 3,937 7,625 20,349 3,534 6,276 6,092 11,024 18,306 1,354 6,117 3,389 37,783 361,307 2,018,247 12,243 123,049 320,713 19,532 116,099 550,297 32.847 158,614 777,497 41,701 199,826 1,227,117 EXHIBIT 4 Global Electric Vehicle Sales of Top 20 Manufacturers of Electric Vehicles and Top 20 Best-Selling Models of Electric Vehicles, 2019 2019 Unit Sales MLD 000 Rank Leading Manufacturers 1 Tesla 2 BYD (China) 3 BAIC (China) 4 SAIC (China) 5 BMW (Germany) 6 Volkswagen (Germany) 7 Nissan (Japan) 8 Geely (China) 9 Hyundal (South Korea) 10 Toyota (Japan) 11 Kla (South Korea) 12 Mitsubishi (Japan) 13 Renault (France) 14 Chery (China) 15 GAC (China) 16 Volvo (Sweden) 17 Great Wall (China) 18 Dongfeng (China) 19 Chang'an Automobile (China) 20 JAC (China) All others 367,820 229,506 160,251 137,666 128,883 84,199 80,545 75,869 72,959 55,155 53,477 52,145 50,609 48,395 46,695 45,933 41,627 39,861 38,793 34,494 732,769 Best-Selling Vehicle Models 2019 Unit Sales Tesla Model 3 300,075 BAIC EU-Series 111,047 Nissan Leaf 69,873 BYD Yuan/52 EV 67,839 SAIC Baojun E-Series 60,050 BMW 530e/Le 51,083 Mitsubishi Outlander PHEV 49,649 Renault Zoe 46,839 Hyundai Kona EV 44,386 BMW 13 41,837 Tesla Model X 39,497 Chery eQ EV 39,401 Toyota Prius PHEV 38,201 Volkswagen e-Golf 36,016 BYD Tang PHEV 34,084 GAC Alons 32,126 SAIC Roewe EIS EV 30,550 BYD e5 29,311 Geely Emgrand EV 28,958 Tesla Models 28,248 All others 1,030,761