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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Hitachi, Ltd.    6501   JP3788600009

HITACHI, LTD.

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Honda invests in China's CATL to jointly develop EV batteries

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07/10/2020 | 04:32am EDT
FILE PHOTO: A Honda E electric car is seen at Brussels Motor Show

Japan's Honda Motor Co Ltd will buy a 1% stake in Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) and the two will jointly develop EV batteries, the companies said on Friday.

Japan's Honda Motor Co Ltd will buy a 1% stake in Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) and the two will jointly develop EV batteries, the companies said on Friday.

The move comes at a time when auto manufacturers and EV battery makers are joining forces in pursuit of an electric future. CATL, based in Ningde, said last year it would develop batteries with Honda and also supply batteries to Tesla, Toyota and Volkswagen AG.

Honda and CATL said in a statement they would develop battery technologies and research a battery recycling business. Honda will launch its first EV with CATL's battery in China in 2022 and will expand the partnership with stable EV battery supply globally in the future.

Honda has struck a number of partnerships to make electric cars, including a joint venture with China's GAC under which the Japanese automaker began selling its first all-battery EV, the Everus VE-1 SUV crossover, in China last year.

It has also tied up with Hitachi Ltd's auto parts subsidiary to develop, produce and sell motors to be used in petrol hybrids, plug-in hybrids and battery electric cars.

For the North American market, Honda has partnered with General Motors Co to develop two new EVs. The two are also working to develop hydrogen fuel cell vehicle technology.

CATL is building a battery plant in Germany and is considering expanding to North America. It has an office in Yokohama near Tokyo. Its Shenzhen-listed shares closed at about 200 yuan ($28.54) on Friday.

(Reporting by Yilei Sun and Norihiko Shirouzu in Beijing, Naomi Tajitsu in Tokyo and Brenda Goh in Shanghai; Editing by David Evans, Himani Sarkar and David Clarke)

Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 2.23% 200.37 End-of-day quote.88.32%
GENERAL MOTORS COMPANY 1.13% 27.86 Delayed Quote.-24.73%
HITACHI, LTD. -0.31% 3550 End-of-day quote.-23.26%
HONDA MOTOR CO., LTD. -1.48% 2722 End-of-day quote.-12.17%
TESLA, INC. 1.83% 1650.71 Delayed Quote.294.60%
TOYOTA INDUSTRIES CORPORATION -0.32% 6160 End-of-day quote.-2.69%
TOYOTA MOTOR CORPORATION -1.43% 7181 End-of-day quote.-6.91%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.938 Delayed Quote.-0.31%
VOLKSWAGEN AG 0.17% 138.98 Delayed Quote.-21.14%
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Financials
Sales 2021 7 998 B 75 032 M 75 032 M
Net income 2021 401 B 3 757 M 3 757 M
Net Debt 2021 722 B 6 775 M 6 775 M
P/E ratio 2021 8,54x
Yield 2021 2,71%
Capitalization 3 432 B 32 233 M 32 198 M
EV / Sales 2021 0,52x
EV / Sales 2022 0,43x
Nbr of Employees 301 056
Free-Float 95,8%
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Technical analysis trends HITACHI, LTD.
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Mean consensus BUY
Number of Analysts 12
Average target price 4 793,33 JPY
Last Close Price 3 550,00 JPY
Spread / Highest target 63,4%
Spread / Average Target 35,0%
Spread / Lowest Target -1,41%
EPS Revisions
Managers
NameTitle
Toshiaki Higashihara President, Chief Executive Officer & Director
Hiroaki Nakanishi Chairman
Mitsuaki Nishiyama Chief Financial Officer & Senior GM-Finance
Norihiro Suzuki CTO, Managing Executive Officer, Manager-R&D Group
George William Buckley Independent Outside Director
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