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

LG CHEM, LTD.

(A051910)
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Tesla seeks China nod to build Model 3 vehicles with LFP batteries - ministry

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05/23/2020 | 05:57am EDT
FILE PHOTO: Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai

Tesla Inc is seeking Chinese government approval to build model 3 vehicles in the country equipped with lithium iron phosphate (LFP) batteries, a document on the website of the Ministry of Industry and Information Technology showed.

Reuters exclusively reported in February that Tesla is in advanced talks to use LFP batteries from CATL that contain no cobalt - one of the most expensive metals in electric vehicle (EV) batteries - in cars made at its China plant.

The document does not show the name of the battery maker. Tesla did not immediately respond to a request for comment.

The U.S. car maker is building Model 3 vehicles at its Shanghai factory. It uses EV batteries from Panasonic Corp and LG Chem. CATL has said it would start supplying Tesla from July.

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

Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED -2.42% 147.84 End-of-day quote.38.95%
LG CHEM, LTD. -1.77% 388500 End-of-day quote.22.36%
LG CORP. -0.31% 64600 End-of-day quote.-12.47%
PANASONIC CORPORATION 2.93% 979.2 End-of-day quote.-4.89%
TESLA, INC. -1.76% 805.81 Delayed Quote.92.63%
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Financials
Sales 2020 31 017 B 25,1 B 25,1 B
Net income 2020 772 B 0,62 B 0,62 B
Net Debt 2020 9 020 B 7,30 B 7,30 B
P/E ratio 2020 38,3x
Yield 2020 0,83%
Capitalization 28 126 B 22 766 M 22 754 M
EV / Sales 2019
EV / Sales 2020 907x
Nbr of Employees -
Free-Float 58,0%
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Technical analysis trends LG CHEM, LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 30
Average target price 443 300,00 KRW
Last Close Price 388 500,00 KRW
Spread / Highest target 39,0%
Spread / Average Target 14,1%
Spread / Lowest Target -29,2%
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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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