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    BMW   DE0005190003

BMW AG

(BMW)
  Report
Real-time Estimate Tradegate  -  03:34 2022-09-26 pm EDT
72.07 EUR   +0.96%
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09:32aBMW sees slight growth in 2023, cuts Germany gas intake by 15%
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Australian miner European Lithium to supply battery-grade lithium to BMW

08/04/2022 | 08:26pm EDT
FILE PHOTO: The logo of German car manufacturer BMW is seen at the company headquarters in Munich

(Reuters) - Australia's European Lithium Ltd said on Friday it has signed an agreement with German automobile maker BMW AG to supply battery-grade lithium hydroxide, as companies look to shift towards greener sources of energy.

Australian lithium miners have been witnessing a flurry of activity in signing agreements with major automobile manufacturers to supply lithium, a key ingredient in electric vehicle batteries, as the global auto industry begins to pivot its manufacturing base toward EVs.

The firm, which is engaged in lithium exploration and development in Austria, said if a binding contract was signed after the initial non-binding Memorandum of Understanding (MoU), BMW will make an upfront payment of $15 million.

The proceeds from BMW's pre-payment will be used to start the construction phase of flagship Wolfsberg Project in Vienna, European Lithium said.

(Reporting by Jaskiran Singh in Bengaluru; Editing by Sherry Jacob-Phillips)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 1.09% 72.16 Delayed Quote.-19.34%
EUROPEAN LITHIUM LIMITED -7.50% 0.074 Delayed Quote.-43.08%
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Analyst Recommendations on BMW AG
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Financials
Sales 2022 133 B 129 B 129 B
Net income 2022 14 561 M 14 047 M 14 047 M
Net cash 2022 26 074 M 25 153 M 25 153 M
P/E ratio 2022 3,11x
Yield 2022 10,3%
Capitalization 47 000 M 45 340 M 45 340 M
EV / Sales 2022 0,16x
EV / Sales 2023 0,14x
Nbr of Employees 118 909
Free-Float 57,5%
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Technical analysis trends BMW AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 71,38 €
Average target price 103,86 €
Spread / Average Target 45,5%
EPS Revisions
Managers and Directors
Oliver Zipse Senior VP-Corporate Planning & Product Strategy
Nicolas Peter Group Leader-Corporate Finance
Norbert Reithofer Chairman-Supervisory Board
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Chairman-General Works Council
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