MERCEDES-BENZ GROUP AG

(MBG)
  Report
Delayed Xetra  -  05/20 11:35:34 am EDT
63.30 EUR   +0.03%
05/20MERCEDES BENZ : 2022 Spanish Grand Prix - Friday
PU
05/20MARKETSCREENER'S WORLD PRESS REVIEW : May 20, 2022
05/20MERCEDES-BENZ GROUP : Mainfirst keeps its Buy rating
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Taiwan battery maker ProLogium signs investment deal with Mercedes-Benz

01/27/2022 | 07:05am EDT
FILE PHOTO: The Mercedes-Benz logo is seen on a car in front of the Mercedes-Benz Museum in Stuttgart

SHANGHAI (Reuters) - Taiwanese battery maker ProLogium Technology Co on Thursday said it has signed a cooperation agreement with Daimler AG's Mercedes-Benz to build test vehicles equipped with co-developed solid-state batteries in the coming years.

ProLogium in a statement said it will receive "high double-digit" million euros in investment from the German luxury car maker which will also take a seat on ProLogium's board.

The battery maker said it will use the investment for battery technology development and to help establish production capacity in Europe.

The partners also agreed on milestones involving the use of solid-state battery technology in a range of passenger vehicles in the second half of the decade, ProLogium said, without elaborating.

"Solid-state technology helps to cut down battery size and weight," Markus Shafer, chief technology officer at the German automaker, said in the statement. "This is why we are partnering with companies like ProLogium."

Solid-state batteries use thin layers of solid electrolytes, which carry lithium ions between electrodes. They are seen as a potential game changer for electric vehicles (EVs) as they can store more energy, charge faster and offer greater safety than lithium-ion batteries that rely on liquid electrolytes.

ProLogium has become the latest battery manufacturer to team up with Mercedes-Benz, as the German automaker works to make all of its vehicles all-electric by 2030 and catch up with EV leader Tesla Inc. Other Mercedes-Benz battery partners include Factorial Energy, Automotive Cells Co and Farasis Energy.

The latest tie-up comes as EV-sector companies compete to develop next-generation batteries to cut costs and reduce "range anxiety".

Chinese EV maker NIO Inc last January said it would deliver its ET7 sedan equipped with a 150-kilowatt-hour battery pack featuring solid-state cells from the fourth quarter of 2022.

ProLogium said it aims to accelerate development of a new plant by the end of 2022 to move toward mass production of its solid-state battery.

In October, the battery maker raised $326 million in its latest funding round from investors including Primavera Capital Group and SoftBank China Venture Capital.

(Reporting by Zhang Yan and Brenda Goh; Editing by Christopher Cushing)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
MERCEDES-BENZ GROUP AG 0.03% 63.3 Delayed Quote.-6.35%
MSCI TAIWAN (STRD) 1.28% 603.833 Real-time Quote.-17.82%
NIO INC. -1.32% 16.44 Delayed Quote.-48.11%
SOFTBANK GROUP CORP. 3.50% 5232 Delayed Quote.-6.97%
TESLA, INC. -6.42% 663.9 Delayed Quote.-32.87%
All news about MERCEDES-BENZ GROUP AG
05/20MERCEDES BENZ : 2022 Spanish Grand Prix - Friday
PU
05/20MARKETSCREENER'S WORLD PRESS REVIEW : May 20, 2022
05/20MERCEDES-BENZ GROUP : Mainfirst keeps its Buy rating
MD
05/20MERCEDES-BENZ GROUP : Goldman Sachs gives a Buy rating
MD
05/19THE MOST VALUABLE CAR IN THE WORLD : Mercedes-Benz 300 SLR Uhlenhaut Coupe Sold for an All..
BU
05/19MERCEDES-BENZ GROUP : JP Morgan reiterates its Buy rating
MD
05/19Vision AMG Show Car Offers Glimpse of All-Electric Future of Mercedes-AMG
BU
05/19MERCEDES-BENZ GROUP : Jefferies reaffirms its Neutral rating
MD
05/19Mercedes-Benz Group to Further Focus on Luxury Segment, Affirms 2030 Fully Electric Tar..
MT
05/19Mercedes-Benz Sets out Long-term Ambitions as the World's Most Valuable Luxury Car Bran..
BU
More news
Analyst Recommendations on MERCEDES-BENZ GROUP AG
More recommendations
Financials
Sales 2022 142 B 150 B 150 B
Net income 2022 11 965 M 12 622 M 12 622 M
Net cash 2022 11 538 M 12 172 M 12 172 M
P/E ratio 2022 5,64x
Yield 2022 6,88%
Capitalization 67 721 M 71 443 M 71 443 M
EV / Sales 2022 0,40x
EV / Sales 2023 0,34x
Nbr of Employees 172 425
Free-Float 82,0%
Chart MERCEDES-BENZ GROUP AG
Duration : Period :
Mercedes-Benz Group AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MERCEDES-BENZ GROUP AG
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Last Close Price 63,30 €
Average target price 90,58 €
Spread / Average Target 43,1%
EPS Revisions
Managers and Directors
Ola Källenius Chairman-Management Board
Harald Emil Wilhelm Chief Financial Officer
Bernd Pischetsrieder Chairman-Supervisory Board
Markus Schäfer Chief Technology Officer
Sari Maritta Baldauf Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
MERCEDES-BENZ GROUP AG-6.35%71 443
TOYOTA MOTOR CORPORATION-4.77%216 231
VOLKSWAGEN AG-17.92%89 917
BMW AG-12.48%54 041
GENERAL MOTORS COMPANY-39.62%52 672
FORD MOTOR COMPANY-39.82%51 654