Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Polestar would like public listing eventually but focus now on electric sedan launch: CEO

share with twitter share with LinkedIn share with facebook
08/11/2020 | 03:20pm EDT
FILE PHOTO: Workers are seen on a production line for Polestar, Volvo and Lynk&Co vehicles at a Geely plant in Taizhou

Polestar, the premium electric vehicle maker owned China's Geely and Volvo Cars, would like to eventually be publicly listed, but the immediate focus is on successfully launching the new Polestar 2 electric sedan, the startup's chief executive said on Tuesday.

"The mid- and long-term perspective indeed is to be ... open for the stock market and an IPO," CEO Thomas Ingenlath told reporters on a conference call. "This is indeed one track that is absolutely still on and has not changed" since Volvo Cars CEO Hakan Samuelsson said in January 2019 that Polestar could eventually be listed publicly, Ingenlath added.

Volvo Cars is owned by Geely.

Polestar's top executive said the focus now is on a successful launch of Polestar 2, dismissing a point made that other EV makers like Nikola Corp and Fisker Inc have gone public or announced plans to do so without having launched a vehicle.

"It's not about the short term thinking. We have a long-term ambition," Ingenlath said. "Let's see where we are in a year's time."

Polestar will sell the Polestar 2 in China, Europe and the United States and the company is targeting annual sales of more than 50,000 within two to three years, he said.

The car will compete with Tesla Inc's Model 3 sedan, but will be targeted at owners of the gasoline-powered luxury sedans from Daimler AG's Mercedes-Benz, BMW AG and Volkswagen AG Audi brand, Ingenlath said.

Polestar, which was launched in 2017, already has the low-volume halo Polestar 1 hybrid performance car that sells for about $150,000. Deliveries of the company's first high-volume car, the Polestar 2, have begun in Europe and will start in North America next month, officials said.

Both cars are built in China and there are no immediate plans to build a Polestar car in the United States, as the company needs to build sales in that market first, Ingenlath said.

The Polestar 2 will be sold through standalone retail locations called "Polestar spaces" that are set up in high-traffic pedestrian areas, officials said. Those showrooms will be owned and operated by Volvo dealers, which will also serve as the service locations for the cars.

By Ben Klayman

Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO 1.20% 173.15 Delayed Quote.10.36%
AUDI AG 0.00% 1620 Delayed Quote.102.50%
BMW AG 0.60% 58.68 Delayed Quote.-19.77%
DAIMLER AG 0.40% 44.4 Delayed Quote.-10.07%
NIKOLA CORPORATION -7.48% 18.31 Delayed Quote.77.42%
TESLA, INC. -5.55% 388.04 Delayed Quote.363.80%
VOLKSWAGEN AG -1.45% 125.1 Delayed Quote.-29.02%
share with twitter share with LinkedIn share with facebook
All news about BMW AG
10/30INTRODUCING TEAM BMW BANK : An interview with DNLS champions Bruno Spengler, Nil..
10/30BMW AG : quaterly earnings release
10/30BMW : Bernstein maintains a Buy rating
10/30INTRODUCING TEAM BMW BANK : An interview with DNLS champions Bruno Spengler, Nil..
10/30Projekt "Cobalt for Development" startet Schulungen für Bergbaukooperativen i..
10/30"Cobalt for Development" project started trainings for mining cooperatives in..
10/30BMW : “Cobalt for Development” project started trainings for mining ..
10/29'TIMO'S DISCOVERY' : BMW works driver Timo Glock tests the new BMW 545e xDrive p..
10/29China's Ganfeng posts profit jump, quits deal to take over more lithium lines
10/29‘TIMO'S DISCOVERY' : BMW works driver Timo Glock tests the new BMW 545e xD..
More news
Sales 2020 95 910 M 112 B 112 B
Net income 2020 2 963 M 3 451 M 3 451 M
Net cash 2020 17 486 M 20 363 M 20 363 M
P/E ratio 2020 12,9x
Yield 2020 2,37%
Capitalization 37 850 M 44 109 M 44 076 M
EV / Sales 2020 0,21x
EV / Sales 2021 0,19x
Nbr of Employees 133 778
Free-Float 57,3%
Chart BMW AG
Duration : Period :
BMW AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BMW AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 69,96 €
Last Close Price 58,68 €
Spread / Highest target 104%
Spread / Average Target 19,2%
Spread / Lowest Target -40,9%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
BMW AG-19.77%44 109
VOLKSWAGEN AG-29.02%76 005
DAIMLER AG-10.07%55 356
HONDA MOTOR CO., LTD.-21.43%40 218