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MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

(BMW)
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BMW : Signs Supply Contract With Ganfeng for Sustainable Lithium

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12/11/2019 | 03:37am EST

By Giulia Petroni

Bayerische Motoren Werke AG (BMW.XE) said Wednesday that it has signed a five-year supply contract for sustainable lithium with China-based Jiangxi Ganfeng Lithium Co worth 540 million euros ($598.2 million).

The German luxury car maker said it will secure its lithium hydroxide needs for fifth-generation battery cells, as it aims to have 25 electrified models in its line-up by 2023.

"Our need for raw materials will continue to grow [...]. By 2025, for lithium alone, we expect to need about seven times the amount we do today," said Andreas Wendt, board member at BMW.

Write to Giulia Petroni at giulia.petroni@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG -0.15% 71.06 Delayed Quote.-2.84%
GANFENG LITHIUM CO LTD End-of-day quote.
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Financials (EUR)
Sales 2019 101 B
EBIT 2019 7 400 M
Net income 2019 5 323 M
Finance 2019 15 485 M
Yield 2019 4,09%
P/E ratio 2019 8,82x
P/E ratio 2020 7,45x
EV / Sales2019 0,30x
EV / Sales2020 0,29x
Capitalization 45 823 M
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 78,15  €
Last Close Price 71,06  €
Spread / Highest target 66,1%
Spread / Average Target 9,98%
Spread / Lowest Target -16,8%
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Managers
NameTitle
Oliver Zipse 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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