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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Anhui Jianghuai Automobile Group Corp.,Ltd.    600418   CNE0000018M9

ANHUI JIANGHUAI AUTOMOBILE GROUP CORP.,LTD.

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Volkswagen to test autonomous vehicles in Chinese city Hefei

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08/26/2020 | 09:41am EDT
FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris

Volkswagen AG said on Wednesday it will start testing autonomous vehicles in China's eastern city of Hefei, its first in the world's biggest car market.

China has become a hot spot for trying out autonomous driving vehicles. Toyota-backed Pony.ai, Baidu Inc, Nissan-backed WeRide and Didi Chuxing are all testing autonomous cars in different cities as automakers and tech companies are investing billions in the technology.

Volkswagen, the biggest foreign automaker in China, will start the test in Hefei with Audi's e-tron electric sport utility vehicles from September, it said in a statement. The test will be open to the public from next year.

In May, Volkswagen said it would invest 1 billion euros ($1.18 billion) to take a 50% stake in the state-owned parent of Chinese electronic vehicle group JAC. Volkswagen will also take full management control of its existing electric vehicle joint venture with JAC in Hefei by raising its stake to 75% from 50%.

Volkswagen also has ventures with state-owned China FAW Group Corp Ltd [SASACJ.UL] and SAIC Motor Corp Ltd.

The German car company sold 1.59 million vehicles in China in the first six months of 2020, down 17% from 1.92 million vehicles in the same period last year. For all of 2019, Volkswagen sold around 4.23 million vehicles in the country.

In June Volkswagen closed its $2.6 billion investment in Pittsburgh-based self-driving startup Argo AI, in which Ford Motor Co also has a stake.

($1 = 0.8465 euros)

(Reporting by Yilei Sun and Brenda Goh; editing by David Evans and Jane Merriman)


Stocks mentioned in the article
ChangeLast1st jan.
ANHUI JIANGHUAI AUTOMOBILE GROUP CORP.,LTD. -3.03% 8 End-of-day quote.59.36%
ARGO GROUP LIMITED 0.00% 18.5 Delayed Quote.-24.49%
BAIDU, INC. 0.81% 133.93 Delayed Quote.5.96%
FORD MOTOR COMPANY -0.61% 8.16 Delayed Quote.-12.26%
NISSAN MOTOR CO., LTD. 1.97% 387.9 End-of-day quote.-39.02%
SAIC MOTOR CORPORATION LIMITED 0.52% 21.25 End-of-day quote.-10.90%
TOYOTA INDUSTRIES CORPORATION 1.95% 6800 End-of-day quote.7.42%
TOYOTA MOTOR CORPORATION 0.10% 6973 End-of-day quote.-9.61%
VOLKSWAGEN AG 1.06% 139.06 Delayed Quote.-21.10%
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Financials
Sales 2020 51 696 M 7 734 M 7 734 M
Net income 2020 166 M 24,9 M 24,9 M
Net cash 2020 5 485 M 821 M 821 M
P/E ratio 2020 88,9x
Yield 2020 1,25%
Capitalization 15 146 M 2 265 M 2 266 M
EV / Sales 2020 0,19x
EV / Sales 2021 0,12x
Nbr of Employees 24 487
Free-Float 51,0%
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Technical analysis trends ANHUI JIANGHUAI AUTOMOBILE GROUP CORP.,LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Average target price 9,10 CNY
Last Close Price 8,00 CNY
Spread / Highest target 73,8%
Spread / Average Target 13,8%
Spread / Lowest Target -45,0%
EPS Revisions
Managers
NameTitle
Xing Chu Xiang Vice Chairman & General Manager
Jin An Chairman
Zhou Gang Chairman-Supervisory Board
Wei Tao Finance Director
Dong Sheng Wang Director
Sector and Competitors
1st jan.Capitalization (M$)
ANHUI JIANGHUAI AUTOMOBILE GROUP CORP.,LTD.59.36%2 265
TOYOTA MOTOR CORPORATION-9.61%186 072
VOLKSWAGEN AG-21.10%85 325
DAIMLER AG-1.96%61 293
GENERAL MOTORS COMPANY0.63%52 707
BMW AG-12.59%48 818