Not necessarily. Sometimes vertical integration works, and sometimes it does not. Sometimes a manufacturer "staying in their lane" makes the most sense. Maybe I am off here, but don't recall any ICE OEM making their own transmissions.
Similarly, on a downstream component of ICE vehicles, catalytic converters, which I am fairly well-versed. The cores (honeycombs) are made by a select few companies (e.g., Corning, Inc.). The coated honeycombs coated with precious metals is done by a select few (Johnson Matthey, BASF, etc), and the "canning" or placing the honeycomb in a metal can that gets shipped to the OEMs is done by yet another company (don't know who the canners are). I quizzed technologists about why steps 1, 2 and/or 3 were not vertically integrated into one company, and each time, was told it was more efficient to divide the labor and let the companies do what they are good at to handle their part of the supply chain.
Your second second sentence is hilariously biased. We know you are Tesla's head cheerleader, but put aside your bias, because we have been here many times before. How long has Tesla been in the EV business? Now do Ford and other OEMs. It seems that GM may have been in for a while, but maybe only half-heartedly?
You did not name the second manufacturer, but there are supposedly 3 profitable EV manufacturers.
From a Google snippet from Barrons, which is paywalled:
"Dec 15, 2023 — So far, only three
EV makers are consistently
profitable: Tesla, BYD, and Li Auto."
Oh, well, let's see about BYD-duh, they were a battery maker first. That makes sense. Seems they are kicking Tesla's *** too:
- Elon Musk in a 2011 laughed at Chinese giant BYD’s products and dismissed the company as a threat.
- BYD dethroned Tesla in the fourth quarter as the top EV maker, selling more battery-powered vehicles than its U.S. rival.
- BYD grew from a maker of mobile phone batteries to one of the biggest electric car companies on the planet and is now expanding aggressively overseas.
And are you telling us that Tesla owns their entire battery process from upstream (mining) to midstream (battery material refinement) to downstream (assembly of battery cells)? If not, please sit down before wagging your finger at other companies. Thank you.