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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Volkswagen to Invest in Ford's Self-Driving Car Unit

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07/12/2019 | 04:02am EDT

By WSJ City

Volkswagen has agreed to invest around $2.6bn in Ford's autonomous-vehicle partner, Argo AI, in a deal that values the startup at $7bn, according to people familiar with the matter.

KEY FACTS

--- Ford has been the majority shareholder of Argo since early 2017, when it agreed to invest $1bn.

--- Argo would develop self-driving technology for VW and eventually supply systems for commercial use.

--- The investment in Argo includes $1bn in capital funding.

--- It also includes the value of VW's 200-person autonomous-driving division, which the companies placed at $1.6bn.

Why This Matters

Major auto makers have been consolidating efforts as they race to develop driverless and electric cars and build business models around them. General Motors' San Francisco-based Cruise subsidiary is developing an autonomous-driving system with Honda, which has agreed to invest $2.75bn in Cruise.

Alphabet's Waymo unit, considered by many analysts to be furthest along in technical development, is working with several big auto makers, including Fiat Chrysler, Renault and its alliance partner, Nissan.

A fuller story is available on WSJ.com

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY 0.00% 9.04 Delayed Quote.18.17%
HONDA MOTOR CO LTD -0.18% 2476 End-of-day quote.-11.57%
ONE STOP SYSTEMS INC 0.00% 1.85 Delayed Quote.-4.64%
VOLKSWAGEN AG 0.70% 143.82 Delayed Quote.2.98%
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Financials (EUR)
Sales 2019 246 B
EBIT 2019 17 597 M
Net income 2019 13 447 M
Finance 2019 23 766 M
Yield 2019 4,24%
P/E ratio 2019 5,25x
P/E ratio 2020 4,86x
EV / Sales2019 0,20x
EV / Sales2020 0,16x
Capitalization 71 948 M
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Mean consensus BUY
Number of Analysts 28
Average target price 189,78  €
Last Close Price 142,76  €
Spread / Highest target 68,1%
Spread / Average Target 32,9%
Spread / Lowest Target -14,5%
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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 Member-Supervisory Board
Bernd Osterloh Member-Supervisory Board
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1st jan.Capitalization (M$)
VOLKSWAGEN AG2.98%79 774