That is very simple:
Thea are buying more than 12.000 batteries because they are sure they will sell more than 12.000 EVs.
They sell the EVs at more than $11.000.
and now do the maths: 12.000 x $11.000 = $132 Mill.
And this is just the beginning......
2 batteries per vehicle, one on each side. Add to that a few as spares for QBX. My estimate 5,000 vehicles or slightly more. Even if we divide your estimate of profit by half, it is still A LOT of profit. The share price will have to rise considerably to keep up.