Log in
E-mail
Password
Show 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
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Volkswagen AG
  6. News
  7. Summary
    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Volkswagen open to giving away majority in battery division-board member

01/14/2022 | 12:44pm EST
A Volkswagen logo is pictured during the Volkswagen Group's annual general meeting in Berlin

FRANKFURT (Reuters) - Volkswagen could end up owning a minority stake in its battery division, which could be listed in an initial public offering at some point, the carmaker's board member in charge of the business told a newspaper.

"If unit sales of electric vehicles grow the way we expect it would make sense to bring on board external investors. But we want to remain at the steering wheel," Thomas Schmall told Frankfurter Allgemeine Sonntagszeitung.

"For that one does not necessarily need the majority."

Schmall oversees Volkswagen's plan to build six large battery cell plants across Europe by 2030, a key part of the carmaker's efforts to overtake Tesla as the world's top seller of electric vehicles.

The company has previously said it would realise this with outside partners and funding.

Schmall said that in the long-term the company could imagine supplying rivals with its battery cells.

"We want to set a standard for our industry," he was quoted as saying.

(Reporting by Christoph Steitz; Editing by Kirsten Donovan)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ON SEMICONDUCTOR CORPORATION -6.38% 59.01 Delayed Quote.-13.12%
TESLA, INC. -3.38% 995.65 Delayed Quote.-5.78%
VOLKSWAGEN AG -0.18% 191.3 Delayed Quote.8.01%
All news about VOLKSWAGEN AG
01/19MARKETSCREENER’S WORLD PRESS REVIEW : January 19, 2022
01/19VOLKSWAGEN VORZÜGE : Deutsche Bank reiterates its Buy rating
MD
01/19S.Korea's LG Energy Solution sees record retail demand for IPO
RE
01/19New purchase in the MarketScreener USA Portfolio
01/18Sales of Hyundai Motor, Kia in Europe Surpass 1 Million in 2021
MT
01/18Cadence Design Systems aims to cash in on new custom-chip era
RE
01/18Cadence Design Systems aims to cash in on new custom-chip era
RE
01/18Volkswagen Forms JV With Bosch To Provide Battery Equipment Solutions
MT
01/18Volkswagen and Bosch team up to boost Europe's battery ambitions
RE
01/18VOLKSWAGEN : and Bosch want to industrialize manufacturing processes for battery cells
PU
More news
Analyst Recommendations on VOLKSWAGEN AG
More recommendations
Financials
Sales 2021 247 B 281 B 281 B
Net income 2021 13 866 M 15 739 M 15 739 M
Net cash 2021 30 035 M 34 091 M 34 091 M
P/E ratio 2021 6,92x
Yield 2021 3,89%
Capitalization 118 B 134 B 134 B
EV / Sales 2021 0,36x
EV / Sales 2022 0,30x
Nbr of Employees 645 318
Free-Float 56,8%
Chart VOLKSWAGEN AG
Duration : Period :
Volkswagen AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VOLKSWAGEN AG
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Last Close Price 191,70 €
Average target price 243,06 €
Spread / Average Target 26,8%
EPS Revisions
Managers and Directors
Herbert Diess Chairman-Management Board
Arno Antlitz Head-Finance & Information Technology
Hans Dieter P÷tsch Member-Management Board
Thomas Schmall-von Westerholt Head-Technology
Kurt Michels Chief Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
VOLKSWAGEN AG8.01%134 285
TOYOTA MOTOR CORPORATION9.38%278 562
DAIMLER AG10.22%90 458
FORD MOTOR COMPANY8.09%89 716
GENERAL MOTORS COMPANY-4.08%81 653
BAYERISCHE MOTOREN WERKE AG10.59%72 197