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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Contemporary Amperex Technology Co., Limited    300750   CNE100003662

CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED

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Daimler deepens battery alliance with CATL to include R&D

08/05/2020 | 09:16am EST
Daimler AG's annual news conference in Stuttgart

Daimler on Wednesday said it was deepening an alliance with Chinese battery maker CATL to deliver battery packs capable of giving Mercedes-Benz cars 700 kilometres of range at higher recharging speeds.

Daimler already has battery cell supply deals with Korea's SK Innovation, LG Chem and Farasis in addition to China's Contemporary Amperex Technology (CATL), as it plans to ramp up production of electric and hybrid vehicles.

Wednesday's agreement with CATL said the partnership will include supplying cells and entire battery systems as well as combining research.

"We intend to lead in battery technologies, so we are now combining our own research and development expertise with bold partners," Daimler said in a statement.

"The agreement covers the full range of battery technologies, from cells across modules for Mercedes-Benz Cars to entire battery systems for Mercedes-Benz Vans in promising innovative technology configurations. This also includes the CATL cell-to-pack (CTP) design, which eliminates conventional modules and integrates the cells directly into the battery."

The partnership aims to shorten development cycles, significantly increase the ranges of future batteries through advances in energy density and reduce charging times, Daimler said.

CATL will use electricity from renewable energy sources, such as wind, solar and hydropower for its battery cell production, the joint release said.

(Reporting by Edward Taylor; Editing by Michelle Martin)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 0.88% 383.9 End-of-day quote.9.34%
DAIMLER AG 0.48% 56.52 Delayed Quote.-2.65%
LG CHEM, LTD. -1.53% 964000 End-of-day quote.16.99%
LG CORP. -3.77% 102000 End-of-day quote.16.57%
SK INNOVATION CO., LTD. -3.81% 252500 End-of-day quote.32.89%
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Financials
Sales 2020 49 377 M 7 605 M 7 605 M
Net income 2020 5 111 M 787 M 787 M
Net cash 2020 35 300 M 5 437 M 5 437 M
P/E ratio 2020 174x
Yield 2020 0,06%
Capitalization 894 B 138 B 138 B
EV / Sales 2020 17,4x
EV / Sales 2021 12,5x
Nbr of Employees 26 775
Free-Float 99,1%
Chart CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
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Contemporary Amperex Technology Co., Limited Technical Analysis Chart | 300750 | CNE100003662 | MarketScreener
Technical analysis trends CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 311,92 CNY
Last Close Price 383,90 CNY
Spread / Highest target 43,3%
Spread / Average Target -18,7%
Spread / Lowest Target -65,1%
EPS Revisions
Managers and Directors
NameTitle
Jia Zhou General Manager & Director
Ying Ming Wu Chairman-Supervisory Board
Yu Qun Zeng Chairman
Shu Zheng Chief Financial Officer
Ping Li Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED9.34%136 809
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SUNWODA ELECTRONIC CO.,LTD-18.72%6 067
VARTA AG-2.88%5 611
SHENZHEN CAPCHEM TECHNOLOGY CO., LTD.-15.37%5 440