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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  BYD Company Limited    002594   CNE100001526

BYD COMPANY LIMITED

(002594)
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Toyota, China's CATL in partnership for new energy vehicle batteries

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07/17/2019 | 02:37am EDT
FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show

TOKYO (Reuters) - Toyota Motor Corp has agreed to partner with China's Contemporary Amperex Technology Co Ltd to supply and develop batteries for new energy vehicles.

The Japanese automaker said on Wednesday that the firms had also started talks covering a range of areas including new technology development and the reuse and recycling of batteries.

"To further promote the widespread use of electrified vehicles, CATL and Toyota agree that a stable supply of batteries is critical and that battery technology must be further developed and advanced," Toyota said in a statement.

Japan's largest automaker has said it aims to get half of its global sales from electrified vehicles by 2025, five years ahead of schedule, and last month flagged it would partner with CATL and BYD Co Ltd, another Chinese firm, for battery procurement.

The move illustrates the breakneck growth in the electric vehicle market, which is transforming the auto industry, and is also an acknowledgment by Toyota that it might not be able to meet demand for batteries on its own.

Tapping CATL also signals a widening of Toyota's procurement pool. The Chinese firm already has relationships with other automakers such as Honda Motor and a multi-billion dollar battery-supply deal with Volvo.

(Reporting by Chris Gallagher; Editing by Himani Sarkar)

Stocks mentioned in the article
ChangeLast1st jan.
BYD COMPANY LIMITED End-of-day quote.
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD End-of-day quote.
HONDA MOTOR CO LTD 0.55% 2472 End-of-day quote.-11.71%
TOYOTA MOTOR CORP 1.22% 6873 End-of-day quote.11.21%
VOLVO 0.97% 129.8 Delayed Quote.10.87%
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Financials (CNY)
Sales 2019 152 B
EBIT 2019 8 016 M
Net income 2019 3 371 M
Debt 2019 47 413 M
Yield 2019 0,39%
P/E ratio 2019 39,4x
P/E ratio 2020 33,4x
EV / Sales2019 1,26x
EV / Sales2020 1,18x
Capitalization 145 B
Chart BYD COMPANY LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 55,49  CNY
Last Close Price 52,10  CNY
Spread / Highest target 49,9%
Spread / Average Target 6,51%
Spread / Lowest Target -49,9%
EPS Revisions
Managers
NameTitle
Chuan Fu Wang Chairman, President & Executive Director
Jun Qing Dong Chairman-Supervisory Board
Jing Sheng Wu Chief Financial Officer & Vice President
Zuo Quan Xia Non-Executive Director
Xiang Yang Lü Vice Chairman
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