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    600104   CNE000000TY6

SAIC MOTOR CORPORATION LIMITED

(600104)
  Report
End-of-day quote. End-of-day quote Shanghai Stock Exchange - 01/19
20.04 CNY   -0.45%
01/18SAIC Motor Places Order for Two Ships to Support Car Exports
MT
01/17Tesla, XPeng, Others Raise Prices in China Ahead of End of Subsidies
MT
01/17China’s NEV Battery Output Soars 163% in 2021
MT
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Audi-FAW electric vehicle venture in China delayed

11/29/2021 | 04:31am EST
The spread of the coronavirus disease (COVID-19) in Germany

BERLIN (Reuters) - Volkswagen's premium automaker Audi's joint venture to build electric vehicles in China with state-owned FAW Group is behind schedule due to a delay in approval by the relevant authorities, Audi said on Monday.

Building work would be initiated as soon as possible, the spokesperson added, without giving a start date for either the construction of the plant or the production of cars.

German auto publication Automobilwoche first reported on Monday that the licence for Audi and FAW to begin building the plant, which was due to start producing cars from 2024, is expected to arrive in December after intervention from Germany's economic ministry.

The German economic ministry was not immediately available to comment.

Audi signed a memorandum of understanding with China's state-owned FAW Group in October 2020 to jointly produce premium electric vehicles (EVs) in China, the world's largest car market..

The German carmaker has a longstanding partnership with FAW to make combustion engine cars in the northeastern city of Changchun and the southern city of Foshan.

FAW owns 40% of the joint venture, while Volkswagen and Audi own 60%.

Audi also plans to make vehicles with Shanghai-based automaker SAIC Motor, with a goal for electrified vehicles to account for a third of Chinese sales by 2025.

(Reporting by Victoria Waldersee, Christina Amann, Christian Krämer, Editing by Miranda Murray, Kirsten Donovan)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SAIC MOTOR CORPORATION LIMITED -0.45% 20.04 End-of-day quote.-2.86%
VOLKSWAGEN AG 0.62% 191.7 Delayed Quote.7.35%
All news about SAIC MOTOR CORPORATION LIMITED
01/18SAIC Motor Places Order for Two Ships to Support Car Exports
MT
01/17Tesla, XPeng, Others Raise Prices in China Ahead of End of Subsidies
MT
01/17China’s NEV Battery Output Soars 163% in 2021
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01/12China’s NEV Sales Hit 3.5 Million Units in 2021, Ranking First Globally For Seven..
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01/11China’s Weifu High-Tech Forms Hydrogen JV With Bosch
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01/11China’s NEV Registrations Surge 59% in 2021 to Nearly 8 Million
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01/11China's Passenger Car Sales Rise 4.4% in 2021
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01/11SAIC-GM-Wuling Posts 13.5% Jump in Auto Sales in 2021
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01/11Volkswagen aims to double electric car sales in China this year after missing targets
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Financials
Sales 2021 791 B 125 B 125 B
Net income 2021 25 363 M 3 998 M 3 998 M
Net cash 2021 70 724 M 11 147 M 11 147 M
P/E ratio 2021 9,24x
Yield 2021 3,89%
Capitalization 232 B 36 491 M 36 493 M
EV / Sales 2021 0,20x
EV / Sales 2022 0,16x
Nbr of Employees 204 815
Free-Float -
Chart SAIC MOTOR CORPORATION LIMITED
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SAIC Motor Corporation Limited Technical Analysis Chart | 600104 | CNE000000TY6 | MarketScreener
Technical analysis trends SAIC MOTOR CORPORATION LIMITED
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 20,04 CNY
Average target price 24,49 CNY
Spread / Average Target 22,2%
EPS Revisions
Managers and Directors
Xiaoqiu Wang President & Director
Yong Wei Chief Financial Officer & Board Secretary
Hong Chen Chairman
Xiao Su Chen Chairman-Supervisory Board
Si Jie Zu Chief Engineer & Deputy General Manager
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