Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

APPLE INC.

(AAPL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Main Volkswagen brand speeds up shift to electric

03/05/2021 | 11:01am EDT
FILE PHOTO: International Motor Show in Riga

FRANKFURT (Reuters) - Volkswagen wants electric vehicles to make up the majority of European sales for its core brand by 2030, it said on Friday, the latest carmaker to accelerate the shift towards battery-powered models.

Fully electric vehicles are expected to account for more than 70% of its total European vehicle sales by 2030, compared with a previous target of 35%, the world's second-largest carmaker said as it unveiled its 'Accelerate' strategy.

"With Accelerate we are increasing the speed on our path to a digital future," said Ralf Brandstaetter, who heads the Volkswagen brand and also sits on the group's management board.

"In the coming years, we will change Volkswagen as never before," he added, saying that integrating data and software functions into cars would open up new sources of revenue.

Challenged by Apple, Google and Amazon, Volkswagen also plans to offer self-driving vehicles and wants to develop operating systems - the heart of future electric cars - on its own to cash in on data-based business models.

"If you place that into the hands of a third party you can no longer develop these business models yourself," Brandstaetter said.

Volkswagen has earmarked around 16 billion euros ($19 billion) for investment in the future trends of e-mobility, hybridization and digitalisation up to 2025.

The group had been a laggard on electrification until it admitted in 2015 to cheating on U.S. diesel emissions tests and had to deal with new Chinese quotas for electric vehicles.

This prompted a strategic shift to zero-emission and self-driving technology, and it now has one of the most ambitious programmes in the industry.

Automakers are also racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030.

Stellantis, the product of the merger between Fiat Chrysler and PSA, plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025.

In China and the United States, Volkswagen expects the share of fully electric vehicles it sells to rise to 50% by 2030, the brand said, aiming to head off rivals including Tesla to become the world's leader in electric vehicle production.

"Of all the major manufacturers, Volkswagen has the best chance of winning the race. While competitors are still in the middle of the electric transformation, we are taking big steps toward digital transformation," Brandstaetter said.

($1 = 0.8377 euros)

(Reporting by Christoph Steitz and Jan Schwartz. Writing by Keith Weir. Editing by Riham Alkousaa and Mark Potter)

By Christoph Steitz and Jan Schwartz


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO 2.48% 209.05 Delayed Quote.5.26%
ALPHABET INC. -0.56% 2263.98 Delayed Quote.30.00%
AMAZON.COM, INC. -0.74% 3336.4769 Delayed Quote.2.39%
APPLE INC. -0.31% 133.09 Delayed Quote.0.61%
S&P GSCI GOLD INDEX -0.47% 1037.8437 Delayed Quote.-5.38%
STELLANTIS N.V. 0.28% 14.388 Real-time Quote.0.00%
STELLANTIS N.V. 0.25% 14.38 Delayed Quote.-2.16%
TESLA, INC. -1.09% 732.8001 Delayed Quote.5.45%
VOLKSWAGEN AG 1.16% 231.05 Delayed Quote.49.85%
All news about APPLE INC.
12:36pS&P 500, Dow subdued as COVID-19 cases rise globally
RE
10:15aAPPLE  : FXhome Launches Major Update to Virtual Production and AR Tracking App ..
AQ
08:37aChipmaker TSMC approves $2.8 billion for capacity expansion
RE
07:31aSOCIAL BUZZ : Gamestop Edges Higher, Microvision Becomes Most Mentioned Stock Am..
MT
07:14aIntel's Earnings Expected to Retreat as CEO Gelsinger Works Toward Revival
DJ
06:31aMARKET CHATTER : Apple Mulls Plans to Expand Ad Business
MT
06:09aHong Kong Hang Seng Up 0.5% on Tech Sector Strength, Earnings Season Outlook
MT
05:45aMARKET CHATTER : SK Telecom Hints at Collaboration with Amazon in Video Streamin..
MT
05:22aANALYSIS : Low-tax Ireland plays damage limitation card as global overhaul becko..
RE
12:58aMARKET CHATTER : Taiwan's Quanta Computers Hit by $50 Million Ransomware Attack
MT
More news
Financials (USD)
Sales 2021 334 B - -
Net income 2021 74 797 M - -
Net cash 2021 65 835 M - -
P/E ratio 2021 30,1x
Yield 2021 0,64%
Capitalization 2 241 B 2 241 B -
EV / Sales 2021 6,52x
EV / Sales 2022 6,19x
Nbr of Employees 147 000
Free-Float 99,9%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 45
Average target price 149,62 $
Last Close Price 133,50 $
Spread / Highest target 31,1%
Spread / Average Target 12,1%
Spread / Lowest Target -37,8%
EPS Revisions
Managers and Directors
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
Sector and Competitors
1st jan.Capitalization (M$)
APPLE INC.0.61%2 234 663
SAMSUNG ELECTRONICS CO., LTD.1.98%496 226
XIAOMI CORPORATION-20.33%85 215
WINGTECH TECHNOLOGY CO.,LTD-3.25%18 373
HTC CORPORATION32.03%1 183
MERRY ELECTRONICS CO., LTD.-13.31%946