Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

(BMW)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Brexit drove Tesla to pick Berlin over Britain for new factory - report

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/13/2019 | 12:38pm EST

Britain missed its chance to host the first European factory of U.S. electric vehicle pioneer Tesla because of Brexit, Chief Executive Elon Musk said in remarks reported on Wednesday.

The company had earlier said it chose a location near Berlin for a new design centre and plant to make batteries, powertrains and vehicles, offering a major boost to the German capital.

Berlin's minister in charge of economic affairs, Ramona Pop, said the move could create 6,000 to 7,000 jobs in production alone, with hundreds or even thousands more in areas such as design, software or research.

"Brexit (uncertainty) made it too risky to put a Gigafactory in the UK," Musk told industry website Auto Express.

No one from Tesla was immediately available to comment.

Britain's vote to leave the European Union has hurt foreign investment because the country's future trading relationship with the EU is still not clear, more than three years after the referendum.

Britain holds a parliamentary election in December in a bid to break the impasse. Conservative Prime Minister Boris Johnson has said high levels of inward investment would return once terms of the withdrawal agreement have been settled.

Major carmakers such as Nissan have said a disorderly departure from the bloc, where companies face tariffs after leaving the EU without a transition deal, would be unsustainable and jeopardise its entire business model.

Britain's business minister Andrea Leadsom said the government was aware that the uncertainty over Brexit is causing investment to be put hold and that is why the upcoming election is needed.

"We need a Conservative government to get Brexit done with a deal and end the uncertainty," she said.

But the opposition Liberal Democrats said the decision shows Johnson's "deluded plans are already costing the country vital investment and making us all poorer".

(This story has been refiled to add word in parentheses, paragraph 4).

(Writing by William Schomberg; Editing by Edmund Blair and Stephen Addison)

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 1.42% 75.87 Delayed Quote.7.31%
NISSAN MOTOR CO., LTD. 1.86% 680.5 End-of-day quote.-20.51%
TESLA INC. -0.36% 358.39 Delayed Quote.7.69%
VOLKSWAGEN AG 2.07% 183.3 Delayed Quote.31.95%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BMW AG
12/12BAYERISCHE MOTOREN WERKE : Collaboration between BMW Motorrad and mobility provi..
AQ
12/12E.ON to Build Large Charging Network for BMW in Germany
DJ
12/11Self-driving partnerships proliferate
RE
12/11BAYERISCHE MOTOREN WERKE : Android Auto comes to BMW. BMW to offer wireless inte..
AQ
12/11SECURING RAW MATERIAL SUPPLIES FOR B : BMW Group signs supply contract with Ganf..
PU
12/11BMW : United Nations Alliance of Civilizations and BMW Group announce the 10 fin..
PU
12/11BMW : Signs Supply Contract With Ganfeng for Sustainable Lithium
DJ
12/11POWERCELL SWEDEN PUBL : gets approval for phase 2 of the German industrial proje..
AQ
12/10Honda, BMW, others affected by Takata 1.4m Airbag recall
AQ
12/10BAYERISCHE MOTOREN WERKE : Street Art Cruising in Miami with the BMW M850i xDriv..
AQ
More news
Financials (EUR)
Sales 2019 101 B
EBIT 2019 7 433 M
Net income 2019 5 337 M
Finance 2019 16 129 M
Yield 2019 3,83%
P/E ratio 2019 9,39x
P/E ratio 2020 7,99x
EV / Sales2019 0,32x
EV / Sales2020 0,32x
Capitalization 48 881 M
Chart BMW AG
Duration : Period :
BMW AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BMW AG
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 76,52  €
Last Close Price 75,87  €
Spread / Highest target 55,5%
Spread / Average Target 0,86%
Spread / Lowest Target -20,9%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
BMW AG7.31%54 373
TOYOTA MOTOR CORPORATION26.39%199 250
VOLKSWAGEN AG31.95%101 357
DAIMLER AG10.28%60 251
HONDA MOTOR CO., LTD.15.04%51 638
GENERAL MOTORS COMPANY6.58%50 936