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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  LG Chem, Ltd.    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
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CATL explores new EV battery services, to add capacity - chairman

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05/27/2020 | 04:35am EDT
Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde

By Yilei Sun and Brenda Goh

China's top electric vehicle (EV) battery maker Contemporary Amperex Technology Ltd (CATL) is exploring new battery-related services and will expand manufacturing capacity in the next two years, its chairman told Reuters.

Ningde-based CATL, which alongside LG Chem and Panasonic is one of the biggest EV battery makers globally, is developing battery-swapping and battery maintenance services, its chairman Zeng Yuqun said on Wednesday.

It will also expand recycling capabilities in China and invest in similar businesses overseas, Zeng added in a written response to Reuters questions.

The firm, which has signed supply deals with Tesla Inc and Volkswagen AG, expects to increase battery manufacturing capacity in the next two years, Zeng said.

It may target further overseas expansion based on customer demand, he added. The firm is currently building a plant in Germany.

Zeng said the firm will control costs to better manage the impact from the coronavirus pandemic. He did not offer details.

As the virus hit demand in China, the world's biggest auto market, sales of new energy vehicles, which include battery electric vehicles as well as plug-in hybrid and hydrogen fuel-cell vehicles, fell 43% in the first four months this year compared to a year earlier.

Reuters reported in February that Tesla is in advanced talks to use lithium iron phosphate batteries from CATL. Sources said this month Tesla and CATL are developing next generation batteries which would have significantly longer lifespans.

(Reporting by Yilei Sun and Brenda Goh; Editing by Jan Harvey and Muralikumar Anantharaman)

Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 9.91% 224.11 End-of-day quote.110.63%
LG CHEM, LTD. 3.40% 547000 End-of-day quote.72.28%
PANASONIC CORPORATION 4.27% 995.7 End-of-day quote.-3.28%
TESLA, INC. -3.08% 1497.06 Delayed Quote.269.24%
VOLKSWAGEN AG -0.49% 139.3 Delayed Quote.-20.57%
WORLD CO., LTD. 3.59% 1471 End-of-day quote.-45.34%
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Financials
Sales 2020 31 548 B 26,2 B 26,2 B
Net income 2020 861 B 0,72 B 0,72 B
Net Debt 2020 8 906 B 7,40 B 7,40 B
P/E ratio 2020 46,4x
Yield 2020 0,61%
Capitalization 39 847 B 33 189 M 33 113 M
EV / Sales 2019
EV / Sales 2020 1 263x
Nbr of Employees -
Free-Float 58,0%
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Technical analysis trends LG CHEM, LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 30
Average target price 550 900,00 KRW
Last Close Price 547 000,00 KRW
Spread / Highest target 29,8%
Spread / Average Target 0,71%
Spread / Lowest Target -49,7%
EPS Revisions
Managers
NameTitle
Hak Cheol Shin Vice Chairman & Chief Executive Officer
Okdong Son President
Jin-Soo Park Vice Chairman
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
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