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    VOW3   DE0007664039

VOLKSWAGEN AG

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Delayed Xetra  -  11:35 2022-08-12 am EDT
148.32 EUR   +0.94%
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Audi invests $19.2 million to restart production in Brazil

06/29/2022 | 03:26pm EDT
FILE PHOTO: Covered Audi cars are seen during the Sao Paulo International Motor Show in Sao Paulo

SAO PAULO (Reuters) - Audi, a Volkswagen Group brand, announced on Wednesday an investment of 100 million reais ($19.22 million) to restart production at its plant in Parana state in Brazil, according to plans disclosed late last year.

Initially, the plant will have a maximum production capacity of 4,000 vehicles per year, the company said in a statement.

Audi will assemble the Audi Q3 and Audi Q3 Sportsback models at the plant in the city of Sao Jose dos Pinhais, initially only for the Brazilian market.

Audi had halted the assembly line in 2020, after the end of the production cycle for its previous version of the Q3 SUV. In November, Volkswagen suspended production in the complex due to a lack of electric components.

($1 = 5.2042 reais)

(Reporting by Alberto Alerigi Jr.; Writing by Peter Frontini; Editing by Richard Chang)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -2.28% 5.2024 Delayed Quote.-17.28%
VOLKSWAGEN AG 0.94% 148.32 Delayed Quote.-16.43%
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Financials
Sales 2022 276 B 283 B 283 B
Net income 2022 17 247 M 17 683 M 17 683 M
Net cash 2022 32 033 M 32 845 M 32 845 M
P/E ratio 2022 4,33x
Yield 2022 6,07%
Capitalization 88 865 M 91 115 M 91 115 M
EV / Sales 2022 0,21x
EV / Sales 2023 0,18x
Nbr of Employees 641 900
Free-Float 56,8%
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Number of Analysts 23
Last Close Price 148,32 €
Average target price 204,35 €
Spread / Average Target 37,8%
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Managers and Directors
Herbert Diess Chairman-Management Board
Arno Antlitz Head-Finance & Information Technology
Hans Dieter Pötsch Member-Management Board
Thomas Schmall-von Westerholt Head-Technology
Kurt Michels Chief Compliance Officer
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