"Plans to design" is a long way off from an ability to build. This is a hype piece and there's nothing of substance. Elon's "plans" are pretty worthless. He overhypes everything and falls short on the hype when push comes to shove. He's been promising battery breakthroughs for years already and not delivered on it. It's only in the past year that he's started meeting the annual vehicle production rates he promises; he's quit well-known for setting production targets and never reaching them.

So yeah, Tesla's overvalued because they haven't done squat about the batteries yet and Elon's "plans" to solve the battery issue isn't worth anything until he actually does it.