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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Volkswagen, Northvolt to Produce Battery Cells in Salzgitter, Germany

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09/06/2019 | 04:13am EST

By Max Bernhard

Volkswagen AG (VOW.XE) and Swedish battery maker Northvolt AB plan to jointly produce lithium-ion battery cells in a new factory in Salzgitter, Lower Saxony, the German car maker's home state.

Construction of the factory is scheduled to begin next year, while start of production is planned for the end of 2023 or early 2024, Volkswagen said Friday. To that end, the two companies have created a 50-50 joint venture--a planned move that was previously announced.

The initial annual output of the factory will be 16 GWh, Volkswagen said.

Volkswagen invested about $1 billion in joint battery-production activities with Northvolt in May, which included the acquisition of a 20% stake in the company. The two said then that they plan to set up a joint venture for the battery-cell factory in Germany.

Write to Max Bernhard at max.bernhard@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
PORSCHE AUTOMOBIL HOLDING SE -0.30% 66.9 Delayed Quote.30.02%
SALZGITTER AG -2.43% 17.335 Delayed Quote.-30.66%
VOLKSWAGEN AG -0.25% 175.06 Delayed Quote.26.33%
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Financials (EUR)
Sales 2019 248 B
EBIT 2019 17 831 M
Net income 2019 13 797 M
Finance 2019 21 433 M
Yield 2019 3,60%
P/E ratio 2019 6,33x
P/E ratio 2020 6,02x
EV / Sales2019 0,27x
EV / Sales2020 0,24x
Capitalization 88 051 M
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Mean consensus BUY
Number of Analysts 30
Average target price 196,65  €
Last Close Price 175,50  €
Spread / Highest target 37,9%
Spread / Average Target 12,0%
Spread / Lowest Target -18,5%
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Managers
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Deputy Chairman
Bernd Osterloh Member-Supervisory Board
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