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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  ABB Ltd    ABBN   CH0012221716

ABB LTD

(ABBN)
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Delayed Quote. Delayed Swiss Exchange - 10/27 08:58:59 am
23.61 CHF   +0.47%
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ABB : provides charging solutions for Dongfeng Honda's EV models

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09/22/2020 | 03:15am EDT

The AC and DC chargers have been supplied to Dongfeng Honda - a joint venture between China's Dongfeng Motor Group and Japan's Honda Motor Company - to support final factory inspection of its best-selling models.

The ABB units have been installed in the electric vehicle assembly line allowing each EV to be test-charged before leaving the factory. They will also establish that every car can correctly receive both an AC and a DC charge. The plant, located in the Wuhan Economic and Technological Development Zone, in China's Hubei Province, mainly produces Dongfeng Honda's best-selling models and the more than 980,000 square meter large site will help the company meet surging demand in China for EVs.

A range of ABB chargers have been selected for use throughout the assembly line, chosen based on Dongfeng Honda's previous experience with ABB's low- and medium-voltage distribution products. Standard 60kW Terra 63Z DC chargers and EVinn 7kW AC chargers have been installed on the car inspection line and fault analysis area. In the tighter confines of the inspection line, the smaller 120kW 2 in 1 Terra 124Z DC charger is used.

Data from the China Association of Automobile Manufacturers (CAAM) shows more than 1.2 million EVs were sold in China in 2019 - the second consecutive year of more than one million EV sales in the country.

China's New Energy Vehicle Industry Development Plan (2021-2035) estimates that by 2025, a quarter of new vehicles sold in China will be EVs; it further estimates that by 2030 China will have more than 64 million EVs on the road.

Frank Muehlon, Head of ABB's global business for E-mobility Infrastructure Solutions, said: 'Charging capacity needs to grow hand-in-hand with China's booming EV sales and adoption. With the development of the country's new energy automobile industry, car manufacturers are transforming to meet consumers' increasing preference for EVs. We are very pleased to help Dongfeng Honda realize its EV development strategy.'

Muehlon added that ABB would continue to increase its investment in EV charging technology to continuously improve users' charging experience.

ABB, a world leader in the field of EV infrastructure, entered the EV charging market in 2010. ABB has installed 14,000 connected DC fast charging stations in 80 countries around the world. In China, ABB's fast-charging solutions have been successfully deployed in more than 30 cities, supporting the country to build a future-oriented and sustainable transportation system. ABB can provide end-to-end closed-loop solutions in the field of electric mobility to meet varied needs from power distribution systems, to infrastructure to daily operation and maintenance.

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB's success is driven by about 110,000 talented employees in over 100 countries. www.abb.com

Disclaimer

ABB Ltd. published this content on 22 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2020 06:14:01 UTC


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Financials (USD)
Sales 2020 25 753 M - -
Net income 2020 5 617 M - -
Net Debt 2020 540 M - -
P/E ratio 2020 9,53x
Yield 2020 3,23%
Capitalization 54 126 M 54 189 M -
EV / Sales 2020 2,12x
EV / Sales 2021 2,16x
Nbr of Employees 110 000
Free-Float 86,2%
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Mean consensus HOLD
Number of Analysts 23
Average target price 26,06 $
Last Close Price 25,87 $
Spread / Highest target 19,3%
Spread / Average Target 0,71%
Spread / Lowest Target -31,4%
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Managers
NameTitle
Björn Klas Otto Rosengren Chief Executive Officer
Peter R. Voser Chairman
Timo J. Ihamuotila Chief Financial Officer
Jacob Wallenberg Vice Chairman
Matti Juhani Alahuhta Independent Non-Executive Director
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