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

MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  SAIC Motor Corporation Limited    600104   CNE000000TY6

SAIC MOTOR CORPORATION LIMITED

(600104)
  Report
End-of-day quote. End-of-day quote Shanghai Stock Exchange - 10/22
21.14 CNY   -1.77%
10/13Audi to launch new electric vehicle venture with China's FAW
RE
10/13Audi to launch new electric vehicle venture with China's FAW
RE
10/12Cadillac, Buick help GM to first China sales growth in two years
RE
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

VW-backed battery maker QuantumScape to go public at $3.3 billion valuation

share with twitter share with LinkedIn share with facebook
09/03/2020 | 01:19pm EDT
FILE PHOTO: Employees clean a new car after a ceremony marking start of the production of a new electric Volkswagen model ID.3 in Zwickau

QuantumScape, the 10-year-old Silicon Valley battery startup backed by Volkswagen AG, said on Thursday it plans to go public through a reverse merger with Kensington Capital Acquisition Corp with an enterprise value of $3.3 billion.

San Jose-based QuantumScape, a 2010 spinout from Stanford University, said it will form a joint venture with VW to produce solid-state battery cells, starting in 2024, for the German automaker's electric vehicles, and eventually for other carmakers.

"Our ambition is to be a (battery) supplier to the industry as a whole," QuantumScape founder and Chief Executive Jagdeep Singh said in an interview.

QuantumScape is the latest transportation startup to tie up with a special-purpose acquisition company, or SPAC. Recent SPAC-backed transactions include Lidar maker Luminar, electric truck maker Nikola, electric shuttle maker Canoo and electric car maker Fisker.

A SPAC is a shell company that raises money through an initial public offering to buy a private operating company and take it public in a reverse merger.

Shares of the Kensington SPAC jumped 68% to $17.80 at mid-day.

VW has committed more than $300 million to QuantumScape. Other corporate investors include Shanghai Auto, which is partnered with VW in China, and German auto supplier Continental AG.

Venture backers include Bill Gates, Khosla Ventures and Kleiner Perkins. The Qatar Investment Authority also participated in the latest funding round.

Ahead of the merger announcement, QuantumScape raised $500 million from institutional investors, led by Fidelity Management & Research.

The SPAC deal is expected to close in late 2020, when the new company will trade on the New York Stock Exchange under the ticker symbol QS.

QuantumScape's lithium-metal battery uses a solid ceramic electrolyte which Singh said is safer than a conventional liquid electrolyte. The design replaces the conventional graphite/silicon anode with a lithium-metal anode, speeding up the recharge to 80% capacity in just 15 minutes. Also, its energy density is much higher, exceeding 400 watt-hours per kilogram, which far surpasses 250 Wh/kg for the best current lithium-ion batteries.

Kensington is a SPAC headed by investment banker Justin Mirro, a specialist in transportation-related deals who will join QuantumScape's board. Kensington's directors include Tom LaSorda, former vice chairman of Chrysler; Don Runkle, former vice chairman of Delphi, and Matt Simoncini, former CEO of Lear Corp.

By Paul Lienert


Stocks mentioned in the article
ChangeLast1st jan.
CONTINENTAL AG -1.18% 100.5 Delayed Quote.-11.76%
LEAR CORPORATION 1.49% 134.32 Delayed Quote.-3.60%
NIKOLA CORPORATION 1.67% 22.6801 Delayed Quote.115.51%
SAIC MOTOR CORPORATION LIMITED -1.77% 21.14 End-of-day quote.-11.36%
VOLKSWAGEN AG 0.38% 137.6 Delayed Quote.-22.22%
share with twitter share with LinkedIn share with facebook
All news about SAIC MOTOR CORPORATION LIMITED
10/13Audi to launch new electric vehicle venture with China's FAW
RE
10/13Audi to launch new electric vehicle venture with China's FAW
RE
10/12Cadillac, Buick help GM to first China sales growth in two years
RE
10/12Cadillac, Buick help GM to first China sales growth in two years
RE
10/07Auto Makers Bet on Augmented Reality Startup
DJ
10/01Secretive High-Speed Trading Firm Hits Jackpot With TikTok
DJ
09/29Chinese FAW Group's talks to acquire Iveco held this year now on hold - sourc..
RE
09/28China's biggest automaker SAIC to have nearly 100 new EV models by 2025
RE
09/28Volkswagen, Chinese ventures to invest 15 billion euros in electric vehicles
RE
09/25GM energizes China line-up with electric micro car
RE
More news
Financials
Sales 2020 755 B 113 B 113 B
Net income 2020 22 518 M 3 376 M 3 376 M
Net cash 2020 61 188 M 9 174 M 9 174 M
P/E ratio 2020 11,2x
Yield 2020 4,03%
Capitalization 251 B 37 808 M 37 697 M
EV / Sales 2020 0,25x
EV / Sales 2021 0,23x
Nbr of Employees 216 360
Free-Float 22,3%
Chart SAIC MOTOR CORPORATION LIMITED
Duration : Period :
SAIC Motor Corporation Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAIC MOTOR CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 23,14 CNY
Last Close Price 21,52 CNY
Spread / Highest target 40,8%
Spread / Average Target 7,54%
Spread / Lowest Target -28,6%
EPS Revisions
Managers
NameTitle
Xiaoqiu Wang President & Director
Hong Chen Chairman
Bai Ping Bian Chairman-Supervisory Board
Yong Wei Chief Financial Officer & Board Secretary
Bao Xin Jiang Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
SAIC MOTOR CORPORATION LIMITED-9.77%37 808
BYD COMPANY LIMITED259.07%53 959
FERRARI N.V.14.73%35 089
MARUTI SUZUKI INDIA LTD-6.88%28 139
FIAT CHRYSLER AUTOMOBILES N.V.-18.86%20 001
GUANGZHOU AUTOMOBILE GROUP CO., LTD.-22.58%15 295