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    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Real-time Estimate Tradegate  -  03:51 2022-08-15 am EDT
147.32 EUR   -0.67%
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Mexico's environment ministry denies permit for Audi solar plant

07/01/2022 | 09:14pm EDT
Logo of Audi is seen during the opening of a new plant in San Jose Chiapa

MEXICO CITY (Reuters) - Mexico's environment ministry said on Friday it rejected a key environmental permit for a solar power plant that German automaker Audi has proposed to build near its factory in the central Mexican state of Puebla.

Audi's proposed environmental impact statement for the photovoltaic power plant, sent to officials in late May, was denied because it requires a regional analysis given additional electrical infrastructure that will be needed, the ministry said in a brief statement.

"From their initial conception, these types of projects require the establishment of a power station, an electric substation and internal transmission lines," it said.

The ministry added it will evaluate any new environmental impact statement for the solar plant that Audi submits.

Audi Mexico did not immediately respond to a request for comment.

(Reporting by Kylie Madry; Editing by Daniel Wallis and Leslie Adler)


© Reuters 2022
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Analyst Recommendations on VOLKSWAGEN AG
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Financials
Sales 2022 276 B 283 B 283 B
Net income 2022 17 246 M 17 682 M 17 682 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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Mean consensus OUTPERFORM
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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