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    BAS   DE000BASF111

BASF SE

(BAS)
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BASF, Porsche to develop high-performing lithium-ion batteries

07/21/2021 | 03:38am EDT
A general view of the German chemical company, BASF Schwarzheide GmbH in Schwarzheide

BERLIN (Reuters) - Germany's BASF said on Wednesday it has been chosen as the exclusive partner to develop high-performing lithium-ion batteries for electric vehicles with Cellforce Group, a joint venture between Porsche and Customcells.

As part of the collaboration, BASF will provide materials for high-performance battery cells for fast charging and high energy density. Cellforce Group will produce the high-performing battery.

Sources told Reuters last month that Volkswagen was seeking closer ties with Germany's BASF, one of the world's largest suppliers of battery materials."

(Writing by Madeline Chambers; Editing by Riham Alkuosaa)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BASF SE 0.71% 66.68 Delayed Quote.2.32%
PORSCHE AUTOMOBIL HOLDING SE 0.57% 91.86 Delayed Quote.61.84%
VOLKSWAGEN AG 0.97% 207.55 Delayed Quote.34.82%
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Financials
Sales 2021 74 045 M 87 941 M 87 941 M
Net income 2021 5 264 M 6 252 M 6 252 M
Net Debt 2021 14 858 M 17 646 M 17 646 M
P/E ratio 2021 11,2x
Yield 2021 5,16%
Capitalization 60 822 M 72 149 M 72 235 M
EV / Sales 2021 1,02x
EV / Sales 2022 1,03x
Nbr of Employees 107 646
Free-Float 100%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 66,22 €
Average target price 80,10 €
Spread / Average Target 21,0%
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Managers and Directors
Martin BrudermŘller Chairman-Executive Board
Hans-Ulrich Engel Chief Financial & Digital Officer
Kurt Wilhelm Bock Chairman-Supervisory Board
Melanie Maas-Brunner Chief Technology Officer
Anke Schńferkordt Independent Member-Supervisory Board
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