|Bid||142.50 x 50000|
|Ask||144.00 x 30000|
|Day's Range||142.00 - 144.50|
|52 Week Range||34.30 - 145.50|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||62.17|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
European battery makers are gearing up to take advantage of massive "green" stimulus packages unveiled since the coronavirus pandemic though many acknowledge it will be tough to match the Asian giants that dominate the mainstream market. While Sweden's Northvolt, and more recently France's Verkor, are making a play for large-scale production, other European companies are focusing on niche markets and new technologies rather than taking on Chinese and South Korean firms with mass production of batteries destined for electric vehicles (EVs). From Greek battery maker Sunlight to start-ups like InoBat Auto in Slovakia and Switzerland's Innolith, firms say the challenge of building economies of scale fast to compete head on means finding niches is a more likely path to success, for now.
Swedish lithium-ion battery maker Northvolt said on Wednesday it had secured $1.6 billion in debt financing, as part of its plan to have 25% market share of European mobile battery production. Last year, automakers Volkswagen and BMW agreed to fund Northvolt's plan to build Europe’s largest lithium-ion battery plant.
Hyundai Motor Co, an early backer of hydrogen cars, has watched the electric rise of Tesla, including on its home turf. The South Korean company plans to introduce two production lines dedicated to electrics vehicles (EVs), one next year and another in 2024, according to an internal union newsletter seen by Reuters. Euisun Chung, leader of the Hyundai Motor Group conglomerate that also includes Kia Motors, has also held a series of meetings since May with his counterparts at Samsung, LG and SK Group, which make batteries and electronic parts.