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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

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GlobalData : BYD and Toyota tie-up on BEVs for China makes sense for both, says GlobalData

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11/07/2019 | 09:30am EST
07 Nov 2019
BYD and Toyota tie-up on BEVs for China makes sense for both, says GlobalData
Posted in Automotive

Following the news that Toyota and BYD are setting up a joint company to develop battery electric vehicles (BEVs) targeted at the Chinese market;

David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view:

'This collaboration is a way to save costs and position both companies to capitalise on China's rapid BEV market growth over the next ten years. GlobalData forecasts that by 2030 annual production of BEVs in China will be approaching six million vehicles per annum - a six-fold increase on the current level. China will be at the heart of future global growth for electric vehicles (EVs).

'News of the agreement between Toyota and BYD to develop EVs for the Chinese market makes sense for both. They can share costs and utilise their respective strengths.

'China-based BYD is an electric battery technology specialist with very good knowledge of the Chinese marketplace and needs, while Toyota is a global original equipment manufacturer (OEM) with proven strengths in vehicle development and can bring its systems to bear in areas such as manufacturing, quality and safety.

'Further, China is the world's largest automotive market and Beijing is creating the conditions for a ramp-up in 'New Energy Vehicles' such as plug-in electric hybrids and fully-EVs.'

Disclaimer

GlobalData plc published this content on 07 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 November 2019 14:29:04 UTC

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Financials (GBP)
Sales 2019 177 M
EBIT 2019 40,1 M
Net income 2019 15,0 M
Debt 2019 50,1 M
Yield 2019 1,26%
P/E ratio 2019 95,1x
P/E ratio 2020 59,7x
EV / Sales2019 7,45x
EV / Sales2020 6,97x
Capitalization 1 268 M
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Average target price 920,00  GBp
Last Close Price 1 075,00  GBp
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