Volkswagen joint venture buys green credit from Tesla in China

  • Volkswagen 's (OTCPK:VLKAF) joint venture in China with state-owned FAW is planning to buy green car credits from Tesla (NASDAQ:TSLA) in order to meet local environmental rules.
  • Auto manufacturers are awarded green credits that can be offset against negative credits for producing more vehicles with higher emissions.
  • Volkswagen says it is strategically targeting to be self-compliant with rules in China, but will buy the green credits when necessary.
  • FAW- Volkswagen sold 2.16M cars last year.

    Over the current book year the total revenu from the company based in Wolfsburg will be 246.71 billion euros (consensus estimates). This is hugely more than 2020's revenue of 222.88 billion euros.

    Historical revenues and results Volkswagen plus estimates 2020


    The analysts expect for 2021 a net profit of 11.99 billion euros. For this year the majority of the analysts, consulted by press agency Thomson Reuters, expects a profit per share of 33.3 euros. The price/earnings-ratio therefore equals 9.21.

    For this year the analysts expect a dividend of 7.28 euros per share. Volkswagen 's dividend yield thus equals 2.37 percent. The average dividend yield of the automobile producers equals a low 0.95 percent.

    Recent target prices around 281 euros

    The most recent recommendations for the automobile producer are from Goldman Sachs , Jefferies & Co. and Independent Research.

    Volkswagen 's market capitalization is around 63.22 billion euros. The Volkswagen stock was the past 12 months quite unstable. Since last April the stock is even 173 percent higher. This year the stock price moved between 113 and 357 euro.

    Historical stock prices Volkswagen period 2007-2021

    stock prices volkswagen

    On Thursday the stock closed at 306.6 euros. Nieuwsdienst: +31 084-0032-842

    Copyright B.V.
    All rights reserved. Any redistribution, duplication or archiving prohibited. doesn't warrant the accuracy of any News Content provided and shall not be liable for any errors, inaccuracies or for any actions taken in reliance thereon.