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
  1. Homepage
  2. Equities
  3. China
  4. Shenzhen Stock Exchange
  5. Contemporary Amperex Technology Co., Limited
  6. News
  7. Summary
    300750   CNE100003662

CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED

(300750)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Cox Automotive signs service deal with U.S. commercial EV maker

05/03/2021 | 07:10am EDT
FILE PHOTO: An Electric Last Mile Solutions UD-1 electric commercial van is seen in Auburn Hills

DETROIT (Reuters) - U.S. electric commercial vehicle maker Electric Last Mile Solutions (ELMS) said on Monday it has signed a letter of intent for Cox Automotive to supply service and repairs for the delivery van it will launch later this year.

Under the deal, Cox's Pivet unit will provide warranty repairs, vehicle maintenance, roadside assistance, collision repairs and EV battery servicing to ELMS' customers, the companies said. Cox boasts a network of more than 6,000 service centers, 3,000 partners and over 800 mobile technicians. Financial terms were not disclosed.

"The opportunity to collaborate with industry leader Cox Automotive helps put us on track to offer customers one of the most comprehensive service solutions that addresses their fleet needs in the most time and cost-efficient manner," ELMS Chief Executive James Taylor said in a statement.

Cox, a subsidiary of privately owned Cox Enterprises, owns the Autotrader online automobile market, Kelley Blue Book car valuation service and Manheim, which auctions vehicles. Cox also invested in EV startup Rivian.

ELMS plans to launch a small Class 1 electric delivery van at the end of the third quarter, followed by a larger Class 3 truck in the second half of 2022.. The Troy, Michigan-based manufacturer has agreed to go public through a reverse merger with special-purpose acquisition company (SPAC) Forum Merger III Corp in a deal expected to close in the second quarter.

Both vehicles will be assembled at the former Hummer plant in Mishawaka, Indiana, that ELMS intends to acquire from China's Chongqing Sokon Industry Group Stock Co Ltd when the SPAC deal closes.

ELMS' vehicles will be based on Sokon's commercial van made in China, and the batteries will be supplied by Chinese battery company CATL.

The small van has a starting price of $32,500 before the $7,500 federal tax credit and a driving range of 150 miles. It will include such features as over-the-air updates.

(Reporting by Ben Klayman in Detroit; Editing by David Gregorio)

By Ben Klayman


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHONGQING SOKON INDUSTRY GROUP STOCK CO.,LTD. 1.86% 79.22 End-of-day quote.363.82%
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED -0.25% 467.3 End-of-day quote.33.09%
FORUM MERGER III CORPORATION -1.87% 10.2303 Delayed Quote.-26.22%
All news about CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
06/24MARKET CHATTER : China's Energy Regulator Plans Banning Old Electric-Vehicle Bat..
MT
06/22Daimler wants to produce its own battery cells - Business Insider
RE
06/22Daimler wants to produce its own battery cells - Business Insider
RE
06/17NEO LITHIUMá : Slips 5% in Frankfurt as its Produces Battery-Grade Lithium From ..
MT
06/09Sweden's Northvolt raises $2.8 bln to supercharge EV battery output
RE
06/08MARKET CHATTER : CATL, BYD in Talks to Supply Batteries For Apple's Planned Elec..
MT
06/08Exclusive-Apple, Chinese manufacturers in talks on U.S. car battery factory -..
RE
06/08Wall Street muted, Clover Health leads "meme" rally
RE
06/08MARKET CHATTER : Apple Reportedly in Talks With China's Contemporary Amperex Tec..
MT
06/08Apple Has Engaged China's CATL, BYD About EV Battery Supplies, Reuters Report..
DJ
More news
Financials
Sales 2021 89 945 M 13 932 M 13 932 M
Net income 2021 9 549 M 1 479 M 1 479 M
Net cash 2021 45 201 M 7 002 M 7 002 M
P/E ratio 2021 115x
Yield 2021 0,10%
Capitalization 1 088 B 168 B 169 B
EV / Sales 2021 11,6x
EV / Sales 2022 8,24x
Nbr of Employees 33 078
Free-Float 99,1%
Chart CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
Duration : Period :
Contemporary Amperex Technology Co., Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Last Close Price 467,30 CNY
Average target price 470,85 CNY
Spread / Average Target 0,76%
EPS Revisions
Managers and Directors
Jia Zhou General Manager & Director
Shu Zheng Chief Financial Officer
Ying Ming Wu Chairman-Supervisory Board
Yu Qun Zeng Chairman
Zu Yun Xue Independent Director
Sector and Competitors