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    DPW   DE0005552004

DEUTSCHE POST AG

(DPW)
  Report
Real-time Estimate Tradegate  -  06:08:19 2023-02-07 am EST
41.92 EUR   -0.05%
04:49aDeutsche Post's DHL 2-Mann-Handling Opens Logistics Hub in Germany
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02:24aFurther warning strikes at the post office: Letters and parcels remain undelivered
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GM's BrightDrop signs first customer in Canada, unveils country's first large EV factory

12/05/2022 | 12:55pm EST
Opening of automaker General Motors (GM) Brightdrop unit's CAMI EV Assembly, in Ingersoll

(Reuters) - The first electric delivery trucks rolled off production lines at BrightDrop's new factory in Canada on Monday, when the upstart unit of General Motors Co also announced DHL Express Canada as its first customer outside the United States.

GM spent seven months transforming its 2 million-square-foot CAMI Assembly plant in Ingersoll, Ontario, into Canada's first large-scale electric vehicle (EV) factory for BrightDrop Zevo delivery trucks. Before the switch, the site manufactured the gasoline-powered Chevy Equinox.

Opening the retooled plant "is a major step to providing EVs at scale," said BrightDrop Chief Executive Travis Katz, who expects the facility to turn out 50,000 Zevo electric vans annually by 2025.

Its debut comes as GM's fast-growing commercial EV unit races rivals including Ford Motor Co, Rivian Automotive Inc, Stellantis and Arrival for dominance in the electric delivery truck market.

BrightDrop's relationship with GM gives it manufacturing and financial heft that several of its rival EV startups lack, experts said.

"That allows us to go faster," Katz told Reuters.

BrightDrop launched in 2021 and is forecast to reap its first $1 billion in sales next year, said Katz, who added that it took Tesla Inc a decade to hit the same milestone.

BrightDrop already has delivered 150 electric trucks to package carrier FedEx Corp. Its other U.S. customers include retailer Walmart Inc and communications provider Verizon Communications Inc.

Those companies and many others have set goals to replace gas-burning delivery trucks and service vehicles with zero-emissions alternatives over time.

DHL Express Canada's new relationship with BrightDrop "will help bring us closer to that target," CEO Andrew Williams said.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Matthew Lewis)

By Lisa Baertlein


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE POST AG -0.17% 41.865 Delayed Quote.19.23%
FEDEX CORPORATION -1.90% 210.59 Delayed Quote.23.94%
FORD MOTOR COMPANY -0.68% 13.14 Delayed Quote.13.76%
GENERAL MOTORS COMPANY 0.51% 41.34 Delayed Quote.22.89%
HALMA PLC 0.11% 2301.62 Delayed Quote.16.46%
RIVIAN AUTOMOTIVE, INC. 1.61% 20.22 Delayed Quote.7.98%
STELLANTIS N.V. 0.85% 15.184 Real-time Quote.13.46%
STELLANTIS N.V. 0.80% 15.2 Delayed Quote.13.69%
TESLA, INC. 2.52% 194.76 Delayed Quote.58.11%
UPSTART HOLDINGS, INC. -4.80% 21.04 Delayed Quote.59.15%
VERIZON COMMUNICATIONS -0.55% 41.28 Delayed Quote.5.36%
WALMART INC. -0.73% 140.68 Delayed Quote.-0.06%
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04:49aDeutsche Post's DHL 2-Mann-Handling Opens Logistics Hub in Germany
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Analyst Recommendations on DEUTSCHE POST AG
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Financials
Sales 2022 93 556 M 100 B 100 B
Net income 2022 5 254 M 5 641 M 5 641 M
Net Debt 2022 15 807 M 16 971 M 16 971 M
P/E ratio 2022 9,82x
Yield 2022 4,53%
Capitalization 50 546 M 54 269 M 54 269 M
EV / Sales 2022 0,71x
EV / Sales 2023 0,78x
Nbr of Employees 590 000
Free-Float 77,8%
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Technical analysis trends DEUTSCHE POST AG
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Mean consensus BUY
Number of Analysts 16
Last Close Price 41,95 €
Average target price 46,96 €
Spread / Average Target 12,0%
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Managers and Directors
Frank Appel CEO & Head-Global Business Services
Melanie Kreis Head-Finance
Nikolaus von Bomhard Chairman-Supervisory Board
Andrea Kocsis Deputy Chairman-Supervisory Board
Stefan Schulte Independent Member-Supervisory Board
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