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MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

(BMW)
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Tesla move will draw further companies into Germany: state premier

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11/30/2019 | 09:08pm EST
A flagstore shop of electric carmaker Tesla is pictured in Berlin

Tesla's announcement earlier this month that it will build its first European factory near Berlin will draw further companies from the electric mobility and energy storage sectors into Germany, a state premier told newspaper Die Welt.

"They are already on their way. I'm hearing there are further inquiries with the communities and the regional business development program. Tesla will cause other companies to follow," said Dietmar Woidke, premier of the eastern German state of Brandenburg that surrounds Berlin.

He said Brandenburg was already in talks with other companies, declining to identify them due to confidentiality agreements. "I expect that we can announce it before Christmas," Woidke said.

Tesla's move is a big boost for Germany as a center for manufacturing after BMW and Daimler in recent years chose to build new factories in Hungary, and after its auto industry was hit hard by Volkswagen's admission in 2015 that it cheated U.S. diesel emissions tests.

(Reporting by Christoph Steitz; Editing by Mark Heinrich)

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 0.03% 73.2 Delayed Quote.3.54%
TESLA INC. 2.74% 348.84 Delayed Quote.4.82%
VOLKSWAGEN AG -0.07% 175.7 Delayed Quote.26.48%
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Financials (EUR)
Sales 2019 101 B
EBIT 2019 7 439 M
Net income 2019 5 326 M
Finance 2019 16 130 M
Yield 2019 3,97%
P/E ratio 2019 9,08x
P/E ratio 2020 7,73x
EV / Sales2019 0,31x
EV / Sales2020 0,31x
Capitalization 47 262 M
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Mean consensus HOLD
Number of Analysts 29
Average target price 75,85  €
Last Close Price 73,20  €
Spread / Highest target 61,2%
Spread / Average Target 3,63%
Spread / Lowest Target -27,6%
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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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