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

MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

(BMW)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Tesla to export China-made Model 3 vehicles to Europe

10/19/2020 | 11:43am EST
FILE PHOTO: FILE PHOTO: Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai

BEIJING/SHANGHAI (Reuters) - Tesla Inc said on Monday it would start exporting China-made Model 3 cars to more than 10 European countries this month, joining a growing number of automakers using China as an export hub for electric vehicles.

The U.S. carmaker, which started delivering vehicles made in its Shanghai factory in December, will export China-made cars this month to countries including Germany, France, Italy and Switzerland, it said in a statement.

Elsewhere, German rival BMW is preparing to export its electric iX3 model, made at a joint venture plant in Shenyang, China, to Europe, while Daimler is shifting production of its Smart branded city cars to Hangzhou Bay.

Tesla has been expanding in China even as tensions between Washington and Beijing have been escalating. The Shanghai factory, Tesla's first car plant outside of the United States, aims to build 150,000 vehicles this year.

"Support from Chinese government towards the industry, innovative local companies and customers embracing new technologies make China the best market for smart electric vehicles," Tesla said, adding it would expand car production, charging and sales networks in China.

The electric vehicle maker, which sold more than 11,000 Model 3 cars last month in China, the world's biggest auto market, is also building new car manufacturing capacity in Shanghai to make its Model Y sport-utility vehicles.

Reuters reported in September that Tesla was planning to export Model 3 vehicles made in China to Asian and European markets, citing people familiar with the matter.

The export of the Model 3 to Europe comes as Tesla is in the process of building a German factory on the outskirts of Berlin and after the German government announced a subsidy of up to 9,000 euros for buyers of electric cars, including the Model 3.

(Reporting by Yilei Sun and Brenda Goh; Editing by Bernadette Baum and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BMW AG -1.40% 73.09 Delayed Quote.-0.07%
DAIMLER AG 0.89% 56.59 Delayed Quote.14.62%
TESLA, INC. 2.05% 585.76 Delayed Quote.600.12%
All news about BMW AG
11/27GM Plans to Seek Banking Charter to Grow Auto-Lending Business
DJ
11/27BMW : Motorrad Motorsport to start cooperation with two satellite teams for the ..
PU
11/27How parent of BMW's China partner drove to the brink of bankruptcy
RE
11/26BMW : Goldman Sachs reiterates its Neutral rating
MD
11/26SIME DARBY : First-Quarter Net Profit Rose 14% on Stronger Vehicle Sales in Chin..
DJ
11/25AN INTERVIEW WITH MAXIMILIAN GÜNTHER : “We have all the ingredients for ac..
PU
11/25RANDOM INTERNATIONAL AND BMW I PRESE : "No One is an Island". Digital world pre..
AQ
11/25RANDOM INTERNATIONAL AND BMW I PRESE : “No One is an Island”. Digita..
PU
11/25BAYERISCHE MOTOREN WERKE : A unique vehicle by BMW Individual Manufaktur for the..
AQ
11/24China's bond defaults show Beijing's war on debt is back
RE
More news
Financials
Sales 2020 96 624 M 116 B 116 B
Net income 2020 3 446 M 4 122 M 4 122 M
Net cash 2020 16 224 M 19 408 M 19 408 M
P/E ratio 2020 14,0x
Yield 2020 2,33%
Capitalization 47 156 M 56 380 M 56 413 M
EV / Sales 2020 0,32x
EV / Sales 2021 0,28x
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
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 74,98 €
Last Close Price 73,09 €
Spread / Highest target 65,5%
Spread / Average Target 2,59%
Spread / Lowest Target -17,9%
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
Sector and Competitors
1st jan.Capitalization (M$)
BMW AG-0.07%56 380
BYD COMPANY LIMITED388.80%70 055
HONDA MOTOR CO., LTD.-3.32%49 435
SUBARU CORPORATION-20.45%15 678
FAW CAR CO., LTD.25.48%9 124
HARLEY-DAVIDSON, INC.10.22%6 185