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MarketScreener Homepage  >  Equities  >  Xetra  >  EnBW Energie Baden-Württemberg AG    EBK   DE0005220008

ENBW ENERGIE BADEN-WÜRTTEMBERG AG

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Audi, EnBW to turn electric car batteries into grid support tools

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07/03/2020 | 09:32am EDT
FILE PHOTO: The spread of the coronavirus disease (COVID-19) in Germany

By Vera Eckert

German carmaker Audi and utility EnBW are setting up an electric car battery operation at EnBW's Heilbronn plant to build scaleable storage facilities by the end of this year, drawing on retired batteries to help power grids.

Electric vehicle battery recycling and reuse has become a priority for car and battery makers while renewable energy companies face the problem of how to absorb surpluses of wind and solar power to avoid waste and disruption to the stability of grids, slowing the transition to purely carbon-free energy systems.

Alexander Kupfer, project head of circular economy at Audi and in charge of his firm's activities at the site, said the cooperation was part of Audi's recycling commitments.

"We want to develop a plug and play battery storage solution for the energy industry," Kupfer said in an interview.

"The storage facility in Heilbronn will be the blueprint for a scaleable product that can be sold in growing numbers."

Audi has been testing the behaviour of electric car batteries, which represent a third of an EV's unit costs, in a research setting in Berlin for three years.

The batteries to be used for the commercial phase of the project come from test cars, which have run hundreds of thousands of kilometres, Kupfer said.

"A used EV battery still can function for another three to 10 years," he said.

EnBW, a market leader in renewable energy, will construct storage containers at the Heilbronn power and heat cogeneration plant, that would serve as a reference site.

Thereafter, EnBW would develop similar storage tools for sale to industrial power customers, local utilities or decentralised generation plants.

Financial details were not disclosed.

(Reporting by Vera Eckert, editing by Elaine Hardcastle)

Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG 0.00% 1580 Delayed Quote.97.50%
ENBW ENERGIE BADEN-WÜRTTEMBERG AG 0.00% 48.4 Delayed Quote.-4.16%
VOLKSWAGEN AG -1.37% 138.74 Delayed Quote.-20.19%
VOLKSWAGEN AG -1.50% 150.7 Delayed Quote.-11.69%
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Financials
Sales 2019 18 913 M 22 348 M 22 348 M
Net income 2019 734 M 868 M 868 M
Net Debt 2019 7 078 M 8 364 M 8 364 M
P/E ratio 2019 18,6x
Yield 2019 1,39%
Capitalization 13 218 M 15 635 M 15 618 M
EV / Sales 2018 0,57x
EV / Sales 2019 1,10x
Nbr of Employees 22 184
Free-Float 0,37%
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Frank Mastiaux Chief Executive Officer
Lutz Peter Feldmann Chairman-Supervisory Board
Thomas Andreas Kusterer Chief Financial Officer
Hans-Josef Zimmer Chief Technical Officer
Dietrich Herd Deputy Chairman-Supervisory Board
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