Mercedes-Benz joins Stellantis, TotalEnergies in European battery cell venture

  • Mercedes-Benz (OTCPK:DDAIF) says it will take a one-third equity stake in battery cell manufacturer Automotive Cells Company, joining original founders Stellantis (NYSE:STLA) and TotalEnergies (NYSE:TTE).
  • "Together with ACC, we will develop and efficiently produce battery cells and modules in Europe, tailor-made to the specific Mercedes-Benz requirements," says Ola Källenius, CEO of Daimler and Mercedes-Benz. "With Mercedes-Benz as a new partner, ACC aims to more than double capacity at its European sites to support Europe's industrial competitiveness in the design and manufacturing of battery cells."
  • As part of the deal, Daimler will invest a mid-three-digit million euro sum in the project next year, adding that its overall investment would stay below €1B ($1.2B).
  • ACC is budgeted to require an investment of €7B in equity, debt and subsidies to reach its desired capacity of 120 GWh by 2030.
  • Daimler announced a goal in July of becoming all-electric after 2025.

    Over the current book year the company from Stuttgart's total revenue could be around 169.84 billion euros (consensus estimates). This is quite more than 2021's revenue of 154.31 billion euros.

    Historical revenues and results Daimler plus estimates 2021


    The analysts expect for 2021 a net profit of 12.32 billion euros. For this year the consensus of the result per share is a profit of 11.58 euros. The price/earnings-ratio is then 6.68.

    Huge dividend Daimler

    Analysts expect a dividend of 4.3 euros per share. Thus the dividend yield equals 5.56 percent. The average dividend yield of the automobile producers equals a relatively high 2.78 percent.

    Latest estimates around 100 euros

    JP Morgan, Sanford C. Bernstein & Co and Barclays recently provided recommendations for the stock.

    Daimler 's market capitalization is around 82.77 billion euros. 68

    At 13.13 the stock trades 0.63 percent lower at 77.37 euros.

    Historical stock prices Daimler2007-2021

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