Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG St    BMW   DE0005190003

BMW AG ST

(BMW)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

FCA plans electric Fiat 500 for 2020 as moves on from Renault

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/11/2019 | 12:19pm EDT
Ceremony to mark the installation of the first robot on the production line for the new electric Fiat 500 BEV at the Mirafiori industrial complex on the 80th birthday of the plant

TURIN, Italy (Reuters) - Fiat Chrysler (FCA) plans to spend 700 million euros ($788 million) to take the Fiat 500 electric as the carmaker moves on from its failed $35 billion bid to merge with France's Renault, a pioneer in electric vehicles.

FCA chief operating officer for Europe, Middle East and Africa, Pietro Gorlier, announced the Italian-American company's biggest single bet on an electric vehicle at its Mirafiori plant in Turin, northern Italy on Thursday.

FCA's investment is part of a plan announced last year to spend 5 billion euros in Italy up to 2021.

Gorlier told reporters that FCA had started building the new production line at Mirafiori to turn out 80,000 of the new 500 BEV, its first battery electric vehicle to be marketed in Europe.

The original 500 model, launched by Fiat in the late 1950s and known affectionately as the "Cinquecento", quickly become a symbol of Italian urban design.

Mirafiori's 3,500 workers are hoping the new electric mini-car will revive a plant which LMC Automotive estimates is running below 10% of its capacity this year.

Workers in Fiat's home town are also betting on the hybrid version of Maserati's Levante SUV, on which production is expected to start next year, to help boost their working hours.

An early version of the electric 500 has been produced in the United States to comply with local authority rules on zero-emission cars. But former CEO Sergio Marchionne asked customers not to buy the car in 2014 as FCA was losing money on it, and said he hoped to sell the smallest number possible.

Production of the newly-engineered 500 BEV will start in the second quarter of 2020, with room to expand later, Gorlier said.

The 500 BEV will compete in the upmarket small car segment with BMW's Mini. The German company said this week the new electric version of its compact car would start to reach customers from spring next year.

In abandoning its merger offer for Renault, FCA blamed French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker.

($1 = 0.8878 euros)

(Editing by Mark Bendeich; Mark Potter and Alexander Smith)

By Giulio Piovaccari

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG ST 0.30% 66.77 Delayed Quote.-5.56%
FIAT CHRYSLER AUTOMOBILES -1.64% 12.01 End-of-day quote.-5.33%
RENAULT 0.45% 51.29 Real-time Quote.-5.98%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BMW AG ST
07/22EU redoubles threat to retaliate if U.S. raises auto tariffs
RE
07/22BMW Says Daimler Isn't Part of Self-Driving Collaboration With Tencent
DJ
07/19BMW Partners With China's Tencent on Computing Platform for Self-Driving Cars
DJ
07/19NEWS HIGHLIGHTS : Top Company News of the Day
DJ
07/19NEWS HIGHLIGHTS : Top Company News of the Day
DJ
07/19GLOBAL MARKETS LIVE : T-Mobile, Sprint, Boeing, AB InBev…
07/19The Luxury Car Industry's New-Old Bosses -- Heard on the Street
DJ
07/19BMW picks insider Zipse as CEO to catch up with rivals
RE
07/19Global Stocks Gain on Hopes for Rate Cut
DJ
07/19NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials (EUR)
Sales 2019 98 562 M
EBIT 2019 7 428 M
Net income 2019 5 540 M
Finance 2019 16 700 M
Yield 2019 4,78%
P/E ratio 2019 8,03x
P/E ratio 2020 6,80x
EV / Sales2019 0,27x
EV / Sales2020 0,27x
Capitalization 43 250 M
Chart BMW AG ST
Duration : Period :
BMW AG St Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BMW AG ST
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 32
Average target price 75,25  €
Last Close Price 66,67  €
Spread / Highest target 77,0%
Spread / Average Target 12,9%
Spread / Lowest Target -20,5%
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
Sector and Competitors
1st jan.Capitalization (M$)
BMW AG ST-5.56%48 408
TOYOTA MOTOR CORP15.23%186 697
VOLKSWAGEN AG8.98%86 003
GENERAL MOTORS COMPANY19.16%55 998
DAIMLER AG0.28%54 548
HONDA MOTOR CO LTD0.29%45 865