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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayerische Motoren Werke    BMW   DE0005190003

BAYERISCHE MOTOREN WERKE

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Bayerische Motoren Werke : BMW and Daimler seek 7 billion euros savings from shared platforms - reports

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03/14/2019 | 01:50pm EDT
FILE PHOTO: 89th Geneva International Motor Show in Geneva

FRANKFURT (Reuters) - BMW and Daimler are in talks to cooperate in developing vehicle platforms for electric cars in a step that could save each carmaker at least 7 billion euros (£5.9 billion), Sueddeutsche Zeitung and Auto Bild said on Thursday.

The two premium carmakers already have a joint procurement programme and recently extended their alliance to include development of advanced driver assistance systems and mobility services.

The talks over whether to cooperate on vehicle platforms could still fall apart, Sueddeutsche and Auto Bild said, without citing sources.

Both companies have acknowledged cooperation talks which include sharing engineering costs for driverless cars, but BMW and Daimler have repeatedly declined to comment on whether their cooperation could include entire vehicle platforms.

BMW's finance chief said in November he was open to deeper collaboration with Daimler but said it was difficult to identify win-win opportunities in the area of shared vehicle platforms.

Auto Bild said Daimler and BMW are in talks over whether to share engineering costs for compact and midsized cars, which are designed to be "electric first," but also have the capability of accommodating conventional powertrains.

BMW and Daimler would save 7 billion euros each, over a period of seven years, Auto Bild said.

Sueddeutsche Zeitung said the companies are seeking more than 7 billion euros in potential savings, and that if larger vehicles were included in the project, savings could be higher.

BMW and Daimler declined to comment.

(Reporting by Edward Taylor; Editing by Alexandra Hudson)

Stocks mentioned in the article
ChangeLast1st jan.
BAYERISCHE MOTOREN WERKE -2.18% 69.6 Delayed Quote.-1.56%
DAIMLER AG -1.94% 50.5 Delayed Quote.10.00%
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Financials (€)
Sales 2019 99 324 M
EBIT 2019 8 909 M
Net income 2019 6 661 M
Finance 2019 17 131 M
Yield 2019 5,29%
P/E ratio 2019 6,80
P/E ratio 2020 6,63
EV / Sales 2019 0,28x
EV / Sales 2020 0,26x
Capitalization 45 295 M
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Mean consensus HOLD
Number of Analysts 30
Average target price 80,3 €
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Harald Krüger Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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1st jan.Capitalization (M$)
BAYERISCHE MOTOREN WERKE-1.56%51 183
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