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表  9 : STEPS  情境下之預測自由現金流量計算表  (百萬)

                                             2020      2021     2022F     2023F     2024F      2025F     2026F      2027F      2028F     2029F      2030F

             全球電動車銷售(千輛)                     3,000     6,500   6,551.3  7,650.9     9,120.7  11,085.4  11,576.7  14,223.5  17,486.1  21,510.3  26,477.8

             TESLA 總銷售量(輛)                  499,550  936,172  982,695  1,147,635 1,368,105 1,662,810 1,736,505  2,133,525  2,622,915 3,226,545  3,971,670

             市占率                            16.65%  14.40%  15.00%  15.00%          15.00%  15.00%       15.00%     15.00%    15.00%  15.00%        15.00%

             營業收入                           31,536  53,823  62,230        76,136    94,888    120,342  130,912     167,277    213,556  272,433     347,325

             營業成本                           24,906  40,217  43,561        52,915    65,473    82,435     89,020    112,912    143,083  181,168     229,234

             營業毛利                            6,630    13,606  18,669      23,222    29,415    37,908     41,892     54,365     70,474    91,265    118,090

             營業費用                            4,636     7,083    8,090     9,898     12,335    15,645     17,019     21,746     27,762    35,416     45,152

             營業淨利                            1,994     6,523    10,579    13,324    17,080    22,263     24,873     32,619     42,711    55,849     72,938

             所得稅準備金                           292       699     1,164     1,466      1,879     2,449     2,736       3,588     4,698      6,143      8,023

             稅後淨利                             862      5,644    9,415     11,858    15,201    19,814     22,137     29,031     38,013    49,705     64,915

             營業活動現金流量調整                      5,081     5,853    6,500     7,150      7,865     8,652     9,517      10,468     11,515    12,667     13,933

             營業活動之淨現金流                       5,943    11,497    15,915    19,008    23,066    28,466     31,654     39,499     49,528    62,372     78,848

             資本支出                           (3,157)  (6,482)  (7,130)    (7,843)    (8,628)   (9,490)  (10,439)  (11,483)  (12,632)  (13,895)  (15,284)

             自由現金流                           2,786     5,015    8,785     11,165    14,439    18,976     21,215     28,016     36,897    48,477     63,564





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