Stock: Bayerische Motoren Werke (BMW)News: Past 3 yearsAnnouncementsPress Releases 2023 Sep 02, 2023: BMW unveils Vision Neue Klasse concept car as it touts the dawn of a new EV era Key Points BMW's latest design concept showcases a platform that will underpin the brand's next generation of electric vehicles. The first electric vehicles based on the Neue Klasse - or new class - architecture are set to enter production in 2025. "With the BMW Vision Neue Klasse, we put every innovative force that BMW has on the electric side, on the digital side and, of course, that car will also be prepared for the industry of circularity," BMW CEO Oliver Zipse told CNBC. German automaker BMW on Saturday launched a hotly anticipated electric concept car, saying the so-called "Vision Neue Klasse" represents the dawn of a new era for the company. BMW's latest design showcases a platform that will underpin the brand's next generation of electric vehicles. The first electric vehicles based on the Neue Klasse - or new class - architecture are set to enter production in 2025. The new line-up of electric vehicles includes BMW's sixth generation of battery cells, which the company says will improve both the charging speed and range of the Neue Klasse platform by up to 30%. As a result of these measures, BMW said the overall vehicle efficiency would increase by up to 25%. "With the BMW Vision Neue Klasse, we put every innovative force that BMW has on the electric side, on the digital side and, of course, that car will also be prepared for the industry of circularity," BMW CEO Oliver Zipse told CNBC's Arabile Gumede. "In only two years' time, these cars will hit the road, and with that, overall, we lead BMW to a new era of innovation and sustainability. That's the purpose of our show here at the IAA," Zipse said. The Vision Neue Klasse is set to make its public debut in the coming days at the IAA motor show in Munich, which also serves as the headquarters of BMW. The IAA show is one of the world's largest mobility trade fairs. "We believe that electromobility will be the largest growth segment in the world for the automobile industry and we want to be a leading force here," Zipse said. The BMW chief executive projected that battery electric vehicles will represent 15% of the carmaker's worldwide sales by the end of 2023 and that "we will increase that further next year and the year after next." Frank Weber, member of the Board of Management of BMW responsible for development, said the Neue Klasse range represents a "major technological leap" for the carmaker. 'Not afraid at all' of Chinese EV giants In early August, BMW said that it expected ongoing challenges from supply chain issues and stubbornly high inflation to persist over the coming months. It nevertheless lifted the annual outlook for its margin on earnings before interest and taxes in the automotive segment. Shares of BMW are up around 13% year-to-date. Asked about the presence of Chinese electric vehicle giants at the Munich motor show and whether he was worried about Chinese exports into Europe impacting BMW's business, Zipse replied, "No, we are not afraid at all." "That is a sign of attractiveness when global players like the Chinese, which is the largest car market in the world, come here to Munich and showcase what they want. It is far more than auto, this is a tech show, this is an innovation show," Zipse said. "And I think to have everyone here, the Americans, the Europeans and now also the Chinese, is super exciting. You hear it in my words already, I'm more excited, and I'm not afraid at all, and it is good that we have a show which attracts a lot of competition. That's super." Source: CNBC Aug 16, 2023: Vietnamese EV maker VinFast is now worth more than Ford and GM after Nasdaq debut KEY POINTS VinFast is currently worth $85 billion after its shares jumped 270% in Tuesday's market debut. This vaulted it past the world's largest automakers. A SPAC deal initially valued the company at about $23 billion. VinFast's shares jumped some 270% after its U.S. trading debut, vaulting its total market value past some of the world's largest automakers such as Ford, GM, BMW and Volkswagen. On Tuesday, the Vietnamese electric vehicle maker listed on Nasdaq following the completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition. A SPAC is a shell company that raises capital through an initial public offering for the purpose of acquiring an existing operating company. Shares of VinFast closed at $37.06 on Tuesday - 270% higher than Black Spade Acquisition's IPO price of $10. Shares were down 10% ahead of the open Wednesday. Following the market debut, VinFast is now currently worth $85 billion, according to CNBC calculations. The SPAC merger previously valued VinFast at approximately $23 billion, according to a June filing with U.S. securities regulator. Meanwhile, BMW and Volkswagen are both worth around $69 billion, according to Refinitiv data, with Ford at $48 billion and GM at $46 billion. By market capitalization, Tesla is still the world's largest automaker at $739 billion and Chinese rival BYD is fourth place with a $93 billion valuation. VinFast is the automaking unit of Vietnamese conglomerate Vingroup and was founded in 2017. SPAC is 'just a way for us to get listed' Analysts have previously said that SPAC shares are extremely volatile due to their speculative nature. Due to macroeconomic headwinds, many sponsors have been forced to scrap their proposed deals, sometimes even before the SPACs have been listed. "We were ready to do a traditional IPO. We pursued the path for almost two years but the markets have been challenging so we decided to decouple the listing from the fundraising. We got the financial backing from our parent company and we went ahead with the listing by way of SPAC," said VinFast CEO Le Thị Thu Thủy, in a CNBC interview on Tuesday. According to Vingroup, VinFast received a $2.5 billion boost in April from Vingroup and Vingroup's chairman, Pham Nhat Vuong, to fund its global expansion. When asked about the firm's decision to list via a SPAC in unfavorable market conditions, Le said that it was "just a way" to get listed. "You saw how the market reacted when we opened today, right? I think it's just a way for us to get listed in the U.S. We didn't think of the reputation of SPACs," said Le. VinFast's U.S. expansion has faced hurdles, including delayed deliveries to its first customers due to a software issue. The company, which has yet to make a profit, eventually delivered those vehicles to its first U.S. buyers in March, a few months after its December target. VinFast is building a factory in North Carolina to compete with EV makers Tesla and BYD in the U.S. market, as well as traditional automakers increasingly focusing on hybrids and EVs. The automaker said that the facility can produce up to 150,000 vehicles a year in the first phase. The factory is expected to start operations in 2025 - a year later than its initial target of 2024. In response to how VinFast plans to compete with the big players in a competitive market like the U.S., Le said that there is enough market share for each player. ″[With] the whole world and U.S. in particular moving from internal combustion engines to EVs, there's room for everybody." Source: CNBC Dividends Mar 23, 2023: Bayerische Motoren Werke announces dividend Bayerische Motoren Werke today announced a final dividend of EUR8.50 per share. The ex-dividend date is Friday, May 12, 2023 and the record date is Monday, May 15, 2023 and it is payable on Tuesday, May 16. 2022 Apr 03, 2022: Bayerische Motoren Werke announces dividend Bayerische Motoren Werke today announced a final dividend of EUR5.80 per share. The ex-dividend date is Thursday, May 12. 2021 Mar 28, 2021: Bayerische Motoren Werke announces dividend Bayerische Motoren Werke today announced a final dividend of EUR1.90 per share. The ex-dividend date is Thursday, May 13. |