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MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

(BMW)
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BMW, Northvolt Sign EUR2 Billion Battery Cells Contract

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07/16/2020 | 03:15am EDT

By Mauro Orru

 

BMW AG said Thursday that it has signed a 2-billion-euro ($2.28 billion) supply contract for battery cells with Swedish company Northvolt in a push to have 25 electrified models on the roads by 2023.

The German car maker said battery cells would be produced from 2024 at a Northvolt's facility under construction in Skelleftea in northern Sweden, with energy from wind and hydroelectric power.

"Northvolt is the third battery cell supplier we have partnered with, alongside our existing partners, CATL and Samsung SDI," said Andreas Wendt, member of BMW's management board.

BMW is pushing for the electrification of its vehicle fleet as sales of electrified vehicles are expected to double between 2019 and 2021, anticipating a steep growth curve until 2025. Global electrified vehicles sales should rise by an average of more than 30% every year, BMW said.

The company said electrified vehicles in Europe should make up a third of its new vehicle fleet in 2025 and half of sales in 2030.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 


Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 0.69% 64.39 Delayed Quote.-12.48%
SAMSUNG ELECTRONICS CO., LTD. -1.31% 60100 End-of-day quote.7.71%
SAMSUNG SDI CO., LTD. -0.81% 429500 End-of-day quote.81.99%
SDI CORPORATION -2.42% 60.4 End-of-day quote.-6.93%
SDI GROUP PLC 3.50% 74.15001 Delayed Quote.-7.74%
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Financials
Sales 2020 95 910 M 114 B 114 B
Net income 2020 2 963 M 3 511 M 3 511 M
Net cash 2020 17 486 M 20 716 M 20 716 M
P/E ratio 2020 14,1x
Yield 2020 2,17%
Capitalization 41 285 M 48 841 M 48 912 M
EV / Sales 2020 0,25x
EV / Sales 2021 0,22x
Nbr of Employees 133 778
Free-Float 57,3%
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Technical analysis trends BMW AG
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 69,96 €
Last Close Price 64,01 €
Spread / Highest target 87,5%
Spread / Average Target 9,29%
Spread / Lowest Target -45,8%
EPS Revisions
Managers
NameTitle
Oliver Zipse Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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