Log in
E-mail
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

MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

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

Scania in Chinese Market Drive With Plans for New Production Hub -- Update

11/24/2020 | 09:49am EST

By Dominic Chopping

STOCKHOLM--Swedish truck maker Scania said Tuesday that it is growing its footprint in China by establishing a wholly-owned truck production facility.

Scania, owned by Volkswagen AG subsidiary Traton SE, said it has decided to expand in China to benefit from the country's status as the world's largest market for commercial vehicles, which currently accounts for 40% of global sales.

The Chinese market is dominated by national manufacturers, but a move by the country to increase competition by opening up for foreign-owned companies has prompted Scania's decision to invest in the country, it added.

"Our expansion in China will be made step by step and in pace with the positive development of market conditions and the increasing demand for modern vehicles with a higher technology content that will follow," Scania Chief Executive Henrik Henriksson said.

"Until the end of the 2020s, we will make significant investments in order to benefit from this development as well as to establish China as the third leg in our global production structure."

The company's production hubs are currently based in Europe and Latin America, with a site also in Thailand.

Scania said the establishment of its own industrial operations in China has been made possible through its acquisition of Nantong Gaokai Auto Manufacturing Ltd. and it is aiming for sales in China at the end of the 2020s of at least the same volume as that of its current single largest market, Brazil.

"Increasing the presence in the Chinese market is crucial for Scania and the Traton Group's global growth. Our operations in the country will gradually be expanded and developed into a full-scale unit in Scania's global production and supplier structure," Mr. Henriksson added.

The new facility is in Rugao, 150 km northwest of Shanghai, and will start production in early 2022.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

11-24-20 0948ET

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.97% 6.6944 Delayed Quote.4.86%
TRATON SE -4.39% 23.535 Delayed Quote.4.11%
VOLKSWAGEN AG -3.90% 158.64 Delayed Quote.4.08%
All news about VOLKSWAGEN AG
07:18aVOLKSWAGEN VORZÜGE : UBS maintains a Buy rating
MD
01/25VOLKSWAGEN : ordered to pay $20 million in Spanish diesel claim, carmaker to app..
RE
01/25Death of diesel looms as carmakers accelerate to electric future
RE
01/25VOLKSWAGEN VORZÜGE : Kepler Cheuvreux gives a Buy rating
MD
01/25VOLKSWAGEN VORZÜGE : Warburg Research keeps its Buy rating
MD
01/25VOLKSWAGEN VORZÜGE : Deutsche Bank keeps its Buy rating
MD
01/25VOLKSWAGEN VORZÜGE : RBC reiterates its Buy rating
MD
01/25EXCLUSIVE : Taiwan ministry says TSMC will prioritise auto chips if possible
RE
01/25AUDI : more than fulfilled the CO2 fleet targets for Europe in 2020
AQ
01/25VOLKSWAGEN : German business morale hits six-month low as virus halts recovery
RE
More news
Financials
Sales 2020 219 B 265 B 265 B
Net income 2020 4 925 M 5 974 M 5 974 M
Net cash 2020 24 074 M 29 200 M 29 200 M
P/E ratio 2020 16,3x
Yield 2020 2,02%
Capitalization 83 881 M 102 B 102 B
EV / Sales 2020 0,27x
EV / Sales 2021 0,24x
Nbr of Employees 664 196
Free-Float 56,8%
Chart VOLKSWAGEN AG
Duration : Period :
Volkswagen AG Technical Analysis Chart | VOW3 | DE0007664039 | MarketScreener
Technical analysis trends VOLKSWAGEN AG
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 179,62 €
Last Close Price 158,64 €
Spread / Highest target 55,7%
Spread / Average Target 13,2%
Spread / Lowest Target -11,7%
EPS Revisions
Managers and Directors
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Deputy Chairman
Bernd Osterloh Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
VOLKSWAGEN AG4.08%101 723
TOYOTA MOTOR CORPORATION-3.52%206 348
GENERAL MOTORS COMPANY33.05%79 294
DAIMLER AG-0.61%76 927
BMW AG-2.80%55 971
HYUNDAI MOTOR COMPANY35.42%49 049