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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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Daimler deepens battery alliance with CATL to include R&D

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08/05/2020 | 09:16am EDT
Daimler AG's annual news conference in Stuttgart

Daimler on Wednesday said it was deepening an alliance with Chinese battery maker CATL to deliver battery packs capable of giving Mercedes-Benz cars 700 kilometres of range at higher recharging speeds.

Daimler already has battery cell supply deals with Korea's SK Innovation, LG Chem and Farasis in addition to China's Contemporary Amperex Technology (CATL), as it plans to ramp up production of electric and hybrid vehicles.

Wednesday's agreement with CATL said the partnership will include supplying cells and entire battery systems as well as combining research.

"We intend to lead in battery technologies, so we are now combining our own research and development expertise with bold partners," Daimler said in a statement.

"The agreement covers the full range of battery technologies, from cells across modules for Mercedes-Benz Cars to entire battery systems for Mercedes-Benz Vans in promising innovative technology configurations. This also includes the CATL cell-to-pack (CTP) design, which eliminates conventional modules and integrates the cells directly into the battery."

The partnership aims to shorten development cycles, significantly increase the ranges of future batteries through advances in energy density and reduce charging times, Daimler said.

CATL will use electricity from renewable energy sources, such as wind, solar and hydropower for its battery cell production, the joint release said.

(Reporting by Edward Taylor; Editing by Michelle Martin)

Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 2.05% 209.2 End-of-day quote.96.62%
DAIMLER AG 1.54% 46.745 Delayed Quote.-6.76%
LG CHEM, LTD. 4.47% 654000 End-of-day quote.105.98%
LG CORP. 1.51% 74100 End-of-day quote.0.41%
SK INNOVATION CO., LTD. 0.72% 139000 End-of-day quote.-7.33%
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Financials
Sales 2020 49 694 M 7 319 M 7 319 M
Net income 2020 5 115 M 753 M 753 M
Net cash 2020 23 157 M 3 411 M 3 411 M
P/E ratio 2020 93,4x
Yield 2020 0,11%
Capitalization 487 B 71 763 M 71 775 M
EV / Sales 2020 9,34x
EV / Sales 2021 6,80x
Nbr of Employees 26 775
Free-Float 98,8%
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Technical analysis trends CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 213,73 CNY
Last Close Price 209,20 CNY
Spread / Highest target 29,1%
Spread / Average Target 2,17%
Spread / Lowest Target -80,4%
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
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