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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Contemporary Amperex Technology Co., Limited    300750   CNE100003662

CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED

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BMW to source battery cells produced using renewable energy

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06/30/2020 | 06:01am EDT
A logo of BMW is seen outside a BMW car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels

German carmaker BMW on Tuesday said its electric cars will use battery cells produced using renewable energy, a step which will compel the biggest suppliers to source more non-coal generated electricity.

"We now have a contractual agreement with our cell manufacturers that they will use only green power to produce our fifth generation battery cells," BMW Chief Executive Oliver Zipse said on an interview published on the company's website.

Last year, BMW ordered more than 10 billion euros' ($11.07 billion) worth of battery cells from Chinese battery cell maker Contemporary Amperex Technology Co (CATL) and Samsung SDI.

CATL is building a battery cell production plant in Erfurt, Germany, and has said it aims to produce 60 gigawatt hours (GWh) worth of cells a year from 2026 onwards.

BMW is preparing to launch the electric BMW iX3 this year, and the BMW iNEXT and BMW i4 next year.

As production volumes of electric BMW cars increase, the use of green power will save around 10 million tonnes of CO2 over the next decade, BMW said, adding that this is equivalent to the annual carbon dioxide emissions produced by a city of over a million inhabitants.

(Reporting by Edward Taylor)


Stocks mentioned in the article
ChangeLast1st jan.
BMW AG -0.13% 63.93 Delayed Quote.-12.59%
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED -2.97% 225 End-of-day quote.111.47%
SAMSUNG ELECTRONICS CO., LTD. 0.17% 60200 End-of-day quote.7.89%
SAMSUNG SDI CO., LTD. -1.16% 424500 End-of-day quote.79.87%
SDI CORPORATION 2.81% 62.1 End-of-day quote.-4.31%
SDI GROUP PLC 4.20% 74.5 Delayed Quote.-3.87%
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Financials
Sales 2020 49 898 M 7 465 M 7 465 M
Net income 2020 5 134 M 768 M 768 M
Net cash 2020 20 577 M 3 078 M 3 078 M
P/E ratio 2020 100x
Yield 2020 0,11%
Capitalization 524 B 78 383 M 78 412 M
EV / Sales 2020 10,1x
EV / Sales 2021 7,39x
Nbr of Employees 26 775
Free-Float 98,8%
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Technical analysis trends CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 220,91 CNY
Last Close Price 225,00 CNY
Spread / Highest target 42,2%
Spread / Average Target -1,82%
Spread / Lowest Target -81,8%
EPS Revisions
Managers
NameTitle
Jia Zhou General Manager & Director
Ying Ming Wu Chairman-Supervisory Board
Yu Qun Zeng Chairman
Shu Zheng Chief Financial Officer
Ping Li Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED111.47%78 383
SAMSUNG SDI CO., LTD.79.87%24 884
EVE ENERGY CO., LTD101.46%14 631
SUNWODA ELECTRONIC CO.,LTD35.25%6 218
VARTA AG-15.16%4 928
SHENZHEN CAPCHEM TECHNOLOGY CO., LTD.80.52%4 036