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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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Top EV battery maker LG Chem in JV talks with automakers -CEO

10/16/2020 | 01:49am EST

SEOUL, Oct 16 (Reuters) - LG Chem, the world's top electric vehicle (EV) battery maker, is in talks with a "couple" of automakers to create joint ventures to produce automotive batteries, Chief Executive Officer Hak Cheol Shin told Reuters on Friday.

LG Chem is already moving ahead with battery joint ventures with GM and Geely and hopes to expand to other carmakers, Shin said, without elaborating.

"Our joint ventures with Geely and GM have been already announced, and we have ongoing discussions with a couple of other automakers," he said.

The South Korean company currently supplies batteries from its Nanjing, China, factory for Model 3 vehicles built at Tesla's Shanghai plant.

"We have started supplying to Tesla in earnest, and this is the beginning of a good partnership and we hope to expand the partnership," he said.

“We are in talks to expand cooperation with almost all automakers, and Tesla is one of them,” he said.

However, Shin added that Tesla is not one of the companies LG Chem is discussing joint ventures with.

LG Chem, which has a factory in Poland, is also searching for a site for a new battery factory in Europe, he said. (Reporting by Hyunjoo Jin and Heekyong Yang; Editing by Christian Schmollinger)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 0.33% 242.8 End-of-day quote.128.20%
GEELY AUTOMOBILE HOLDINGS LIMITED -5.07% 21.55 End-of-day quote.41.40%
LG CHEM, LTD. -1.23% 800000 End-of-day quote.151.97%
TESLA, INC. 3.02% 584.76 Delayed Quote.578.41%
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Financials
Sales 2020 49 023 M 7 461 M 7 461 M
Net income 2020 5 079 M 773 M 773 M
Net cash 2020 35 725 M 5 437 M 5 437 M
P/E ratio 2020 112x
Yield 2020 0,09%
Capitalization 573 B 87 186 M 87 276 M
EV / Sales 2020 11,0x
EV / Sales 2021 8,05x
Nbr of Employees 26 775
Free-Float 99,1%
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Technical analysis trends CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 242,40 CNY
Last Close Price 246,17 CNY
Spread / Highest target 30,0%
Spread / Average Target -1,53%
Spread / Lowest Target -79,3%
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$)
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