Deutsche Bank: "Volkswagen Electric Vehicle Business Value to Approach 260 Trillion Won"

[Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Global investment bank Deutsche Bank has analyzed that the value of German automaker Volkswagen's electric vehicle business could reach 195 billion euros (approximately 259.532 trillion KRW).

According to Bloomberg on the 22nd (local time), Deutsche Bank explained that applying a valuation similar to electric vehicle companies Tesla or NIO results in this valuation for Volkswagen's electric vehicle business.

Deutsche Bank stated that Volkswagen could surpass Tesla in electric vehicle sales as early as next year and raised Volkswagen's target stock price by 46% to 270 euros (approximately 233 USD).

Thanks to the recent rise in its stock price, Volkswagen has overtaken software company SAP in the DAX index to become the largest market capitalization company for the first time since the stock price fell due to the Dieselgate scandal in 2015.

Volkswagen is strengthening its electric vehicle business capabilities, including plans to transform the Barcelona outskirts factory of the Spanish brand SEAT into an electric vehicle production hub capable of producing more than 500,000 electric vehicles annually.

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