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MarketScreener Homepage  >  Equities  >  Xetra  >  Daimler AG    DAI   DE0007100000

DAIMLER AG

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Daimler : Mercedes-Benz Teams Up With Farasis Energy for Carbon-Neutrally Produced Battery Cells

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09/10/2019 | 06:22am EDT

By Kim Richters

Daimler AG's (DAI.XE) Mercedes-Benz passenger-car division said Tuesday that it will source carbon-neutrally produced battery cells from China's Farasis Energy.

The car maker said that by using these battery cells it will "save well over 30% of the carbon footprint of future vehicle models' entire battery."

Daimler aims to make carbon neutrality a criterion for suppliers and producers and include it in contracts, a Mercedes-Benz spokeswoman said. If companies aren't able to comply for the time being, Daimler will expect a roadmap for reaching carbon neutrality in the future, the spokeswoman said.

Farasis Energy uses electricity from renewable energy sources to produce the battery cells, Mercedes-Benz said.

Mercedes-Benz said the agreement between the two companies also covers the development of concepts for the recycling of lithium-ion batteries and components.

Additionally, the company said it has asked Farasis Energy to disclose its entire supply chain for the battery cells to ensure the compliance and protection of human rights and the responsible sourcing of cobalt.

Write to Kim Richters at kim.richters@wsj.com

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Financials (EUR)
Sales 2019 171 B
EBIT 2019 7 619 M
Net income 2019 4 507 M
Finance 2019 11 295 M
Yield 2019 4,98%
P/E ratio 2019 11,1x
P/E ratio 2020 6,97x
EV / Sales2019 0,24x
EV / Sales2020 0,23x
Capitalization 51 930 M
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Mean consensus HOLD
Number of Analysts 31
Average target price 52,46  €
Last Close Price 48,50  €
Spread / Highest target 75,3%
Spread / Average Target 8,16%
Spread / Lowest Target -32,7%
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Managers
NameTitle
Dieter Zetsche Chairman-Management Board
Manfred Bischoff Chairman-Supervisory Board
Bodo Knut Uebber Chief Financial Officer
Frank Lindenberg Head-Finance & Controlling
Clemens A. H. Boersig Member-Supervisory Board
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