Bayerische Motoren Werke Aktiengesellschaft

Goldman Sachs added Solaria, Straumann, Scout24 and IMCD to its European Conviction List for October, while removing Naturgy, Norsk Hydro and Smith & Nephew, the broker said in a note dated Thursday. The broker did not give reasons for the removals, while its analysts cited improving earnings prospects, valuation and potential for stronger demand as reasons for the new additions. For Spanish renewable energy company Solaria, Goldman analyst Alberto Gandolfi said the market was underestimating improvements in the company's core solar business as pricing strengthens, and pointed to potential growth from data centres and energy storage. Straumann is expected to benefit from a recovery in sales, helped by improving inventories in China and stronger profit margins, analyst Richard Felton said, adding that the dental equipment maker's valuation was close to its lowest level in nearly a decade. For Swiss online marketplace Scout24, analyst Adam Berlin said new products could support growth in private subscribers, putting his estimates above market expectations, and he also sees potential for the company to return more cash to shareholders than expected. IMCD could be approaching a turning point in volumes, while its more specialised product mix should help prices hold up better than expected, analyst Suhasini Varanasi said. Goldman said additions to or removals from its Conviction Lists do not change its underlying investment ratings. Elsewhere, Goldman kept Swedish engineering group Trelleborg on the list with a Buy rating and saw 20% upside, cut its third-quarter 2026 sales estimate by 50 basis points and adjusted EBITA forecast by 140 basis points, and retained a buy rating on BMW following the automaker's Capital Markets Day, seeing 48% upside. The bank upgraded Iberdrola to buy from neutral and raised its price target by 19% to €25 from €21, upgraded AJ Bell to neutral from sell, and remained buy-rated on French steel tube maker Vallourec.

IONNA, the charging network founded by eight of the world's leading automakers, announced it has surpassed more than 180 live charging sites nationwide, more than doubling the size of the network since the beginning of 2026. The growth comes alongside a first-place ranking among DC Fast Chargers in the JD Power 2026 U.S. Electric Vehicle Experience Public Charging Study, earned in IONNA's very first year of eligibility, and the company says it is the largest 400kW charging network in the US. Since announcing its strategic partnership with Circle K earlier this year, IONNA has brought 40 Circle K charging locations online, doubling usage at those locations following upgrades to IONNA operations. Supported partner apps have grown to 19 with new integrations across Presto, ChargeHub and EV Connect, while Plug & Charge is newly enabled for Volvo drivers and Toyota and Lexus support is anticipated in October; Hyundai and Mercedes-Benz have joined BMW and GM in offering charging discounts through their apps and Plug & Charge. IONNA also founded a Driver Advisory Council co-captained by Kyle Conner of Out of Spec and Tom Moloughney of State of Charge, whose first priority will be gathering feedback on the newly launched Driver's Dashboard. "The industry has treated charging scale and charging quality as a tradeoff," said Seth Cutler, CEO of IONNA. "Our growth and first-place customer satisfaction ranking show that drivers can and should expect both."

Bayerische Motoren Werke has partnered with HEVO Inc. and Oak Ridge National Laboratory to develop wireless charging technology for electric and autonomous vehicles. The collaboration will assess a next generation polyphase coil system, with Oak Ridge National Laboratory providing research capabilities and HEVO contributing its wireless charging platform to BMW's vehicle focused testing. Bayerische Motoren Werke, a €34.8b auto manufacturer of cars, motorcycles, parts and accessories, is using the work to explore how its broader vehicle line up might connect with future infrastructure for electric and autonomous transport. The effort backs BMW's long term EV and autonomous platform roadmap rather than near term model cycles, though it sits against existing flags on debt coverage and a dividend not well supported by free cash flow. The key test will be whether BMW sets measurable targets for wireless charging integration in its EV line up at the Berenberg and Goldman Sachs German Corporate Conference this week.

Qualcomm is counting on automotive and data center growth to replace its shrinking Apple business, with the first hard test arriving in the December quarter when management expects its two custom data center wins to start producing revenue. Automotive sales rose 61% year over year in fiscal Q3 2026, and management raised its fiscal 2026 annual run-rate expectation from above $6 billion in April to about $7 billion by July, helped by BMW choosing Qualcomm as lead compute silicon provider for its next-generation ADAS and digital cockpit. Apple is leaving faster than planned, with Qualcomm now expecting its share of Apple's new iPhone launch to fall materially below the 20% it had assumed and forecasting Apple product revenue to drop about 50% from the September quarter to the December quarter. Management expects non-handset revenue growth over the prior year to jump from 24% in fiscal 2026 to more than 60% in fiscal 2027, growth it says will replace all of Apple's fiscal 2026 product revenue, and it sizes data center revenue at $5 billion in fiscal 2027 and $15 billion in fiscal 2029 inside a non-handset target of $40 billion by fiscal 2029. The doubt is execution, and the CEO concedes the data center business is just starting and that investors want proof a new entrant can deliver.

Morgan Stanley downgraded Stellantis to Underweight from Equal Weight and cut its price target to $5.20 from $8.00, sending the automaker's shares down more than 2% on Monday. The rating change came as part of a broader review of European automakers by analysts led by Javier Martinez de Olcoz Cerdan, who cited changes in Stellantis' inventories and incentives and said the product pipeline is lagging behind peers, potentially limiting the company's ability to reduce investment as cash generation declines. Morgan Stanley said Stellantis has the widest risk/reward skew in the sector, flagging refinancing as one potential risk, while asset disposals or changes to the United States-Mexico-Canada Agreement could affect its outlook in other scenarios. In the same review, Morgan Stanley upgraded Renault to Equal Weight from Underweight and raised its price target to €31 from €25, calling it the company with the largest increase in its estimates, and maintained Overweight ratings on Mercedes-Benz and BMW, lifting its Mercedes-Benz target to €59 from €58 and its BMW target to €76 from €74, with Mercedes-Benz remaining its preferred stock in the sector. Volkswagen's price target was raised to €89 from €77 with its Equal Weight rating maintained, Porsche stayed Underweight, and Morgan Stanley said it believes the cyclical margin bottom is behind us, raising its 2026 and 2027 estimates for the European automotive sector for the first time since April 2024, with forecasts now slightly above consensus.

Jinbei Automobile disclosed its 2026 semi-annual report on the evening of August 26. In the first half of the year, it achieved operating revenue of 2.349 billion yuan, up 10.16% year-on-year; net profit attributable to shareholders of the listed company was 92.9128 million yuan, down 9.7% year-on-year; basic earnings per share were 0.07 yuan. The company plans to distribute a cash dividend of 0.1 yuan per 10 shares, tax included, to all shareholders. During the reporting period, the company's core holding enterprise obtained multiple nominations for seats, door panels, instrument panels and other components for models such as the BMW X7 and the mid-cycle refresh of the BMW 5 Series, with expected new orders generating full-lifecycle revenue of 3.085 billion yuan. At the same time, it entered Geely's supply chain, securing business for instrument panels, seats, air-conditioning assembly and other items, with expected new orders generating full-lifecycle revenue of 950 million yuan. In addition, Zhongtuo Technology obtained its first nomination for a CATL battery module component project, achieving a key breakthrough in the new energy business.

The European Commission has approved Mercedes-Benz China, BMW Brilliance Automotive and Seres Group taking joint control of Beijing IONCHI New Energy Technology, known as Ionchi. Ionchi had previously been under the joint control of Mercedes and BMW, and following the approved transaction, Seres becomes a third joint owner of the venture. Ionchi was established in 2024 and operates public high-power charging infrastructure and charging service networks for electric vehicles in China, combining fast charging with station operation, maintenance, customer service and the use of 100% renewable energy. The deal received clearance under the European Union Merger Regulation following the simplified merger review procedure, and according to the Commission, the transaction does not raise competition concerns given its limited impact on the European Economic Area. The approval follows an announcement made in April that Seres would become an equal shareholder in Ionchi, joining BMW and Mercedes-Benz, with each of the three companies holding a 33.3% stake in the joint venture.

Ituran Location and Control reported record second-quarter results, with revenue rising 21% year over year to $104.8 million and subscription revenue increasing 25% to $79.8 million. EBITDA grew 24% to $28.5 million, while net income climbed 29% to $17.3 million, or $0.88 per diluted share. The company added 41,000 net subscribers, reaching 2.711 million, and generated a record $32.2 million in operating cash flow. Ituran ended June with $103.7 million in net cash and no debt, declared a $0.50-per-share dividend, and repurchased $3 million of stock. Management noted that OEM programs with Stellantis, Yamaha, and BMW are supporting expansion, while newer initiatives such as IturanMOB and Credit Carbon remain early-stage, with the U.S. rental-market rollout not expected to contribute materially in 2026 or 2027.

NXP Semiconductors secured a design win to supply its Trimension NCJ29D6 ultra-wideband chips across BMW's future vehicle fleet for digital keys and in-cabin presence detection. The win reinforces NXP's positioning in automotive safety and convenience features, tying directly into the auto content per vehicle catalyst. However, the development does not meaningfully alter near-term risks from a weak automotive cycle, especially in China and at Western Tier 1s, which could still weigh on orders, margins, and confidence in the recovery. NXP's narrative projects $17.1 billion in revenue and $4.5 billion in earnings by 2029, requiring 10.7% yearly revenue growth and about a $1.8 billion earnings increase from $2.7 billion today. The most pessimistic analysts were already assuming only about $16.4 billion of revenue and $4.1 billion of earnings by 2029, suggesting views on NXP's auto and Edge AI potential may diverge further as this new information filters into updated forecasts.

European stock markets closed higher on Friday as mostly encouraging earnings updates and decent economic data helped offset concerns about Middle East tensions. The pan European Stoxx 600 climbed 0.31%, Germany's DAX moved up 0.69%, France's CAC 40 gained 0.17%, and the UK's FTSE 100 ended 0.31% up. Weak U.S. jobs data showing a drop of 23,000 jobs in July against expectations of a 70,000 gain raised hopes the Federal Reserve will not hike interest rates soon. In corporate news, SAP, Scout24, Infineon, Siemens and BMW gained 2% to 4% in Germany, while Daimler Truck Holding shed nearly 3% despite reporting a bottom line of EUR1.457 billion, up from EUR277 million a year earlier. Allianz closed lower by about 1.6% after second-quarter earnings fell to EUR2.595 billion from EUR2.841 billion, and Munich RE dropped 1.4% even as net profit rose to €2.211 billion from €2.085 billion.

Qualcomm signed a long-term deal to supply chips for BMW's future digital cockpit and advanced driver-assistance systems through the next decade. The agreement names Qualcomm as the automaker's lead compute silicon provider for next-generation digital cockpit, ADAS and automated driving systems, spanning the Snapdragon Cockpit, Ride and Elite platforms plus dedicated AI accelerators. No financial terms were disclosed. The deal builds on a partnership that already put the Snapdragon Ride Pilot system into BMW's iX3, and it arrives while Qualcomm is pushing to diversify beyond a shrinking handset business, with automotive revenue up 61% year over year and a $65 billion design-win pipeline.

NXP Semiconductors announced that its Trimension NCJ29D6 family of ultra-wideband solutions will be deployed across the BMW Group’s fleet, starting with selected 2026 vehicle programs. The Trimension NCJ29D6 is the first monolithic automotive UWB solution to combine secure fine-ranging and short-range radar capabilities, enabling safety applications such as presence detection that can identify a living being left behind in a parked car and send a warning. The same single-chip system also supports BMW’s UWB-based Digital Key Plus, which replaces the traditional key fob with a smartphone or smart watch for hands-free, secure vehicle access and personalized welcome experiences. NXP said the platform allows OEMs to use one UWB system for multiple use cases, maximizing system value and paving the way for future features like kick sensing, intrusion alert, or automatic charging.

Qualcomm's automotive revenue surged 61% year over year to a record $1.59 billion in its fiscal third quarter, even as the stock dropped 11% after earnings. Total revenue of $9.95 billion beat consensus by 2.84%, but non-GAAP EPS of $2.21 missed by a penny, and handset revenue fell 20% to $5.09 billion. CEO Cristiano Amon targets $40 billion in non-handset revenue by fiscal 2029, with growth accelerating to more than 60% in fiscal 2027. The company was named BMW Group's lead compute silicon provider for next-generation digital cockpit and automated driving systems, and it closed the acquisition of Modular Inc. 24/7 Wall St. maintains a buy rating and a $242.62 price target on Qualcomm shares, implying 55.85% upside from the current price of $155.68.

Qualcomm completed its $3.9 billion acquisition of AI-software startup Modular and secured a long-term chip agreement with BMW, sharpening its push beyond smartphones just hours before its earnings report. The Modular deal adds software designed to run AI efficiently across CPUs, GPUs and other accelerators, strengthening Qualcomm's attempt to compete from personal devices to data centres. Qualcomm had agreed to issue up to 19.2 million shares to Modular's owners. The BMW agreement will see Qualcomm supply Snapdragon Digital Chassis technology for next-generation digital cockpits, advanced driver-assistance systems and AI accelerators through the next decade, though financial terms were not disclosed. Qualcomm reports fiscal third-quarter results after Wednesday's close, with analysts expecting roughly $9.7 billion in revenue and adjusted earnings near $2.22 per share.

Qualcomm Technologies has been selected by BMW Group as its lead compute silicon provider for next-generation digital cockpit and advanced driver assistance and automated driving systems through the next decade. The agreement spans Qualcomm's Snapdragon Digital Chassis portfolio, including Snapdragon Cockpit and Snapdragon Ride Platforms, and covers the most powerful system-on-chips and dedicated AI accelerators. This builds on an existing collaboration that most recently delivered the Snapdragon Ride Pilot in the BMW iX3, the first vehicle in BMW's Neue Klasse program, which launched commercially in November 2025. The partnership will provide the hardware basis for BMW Group to deliver next-generation AI-powered experiences across its vehicle lineup.

German stocks moved higher on Tuesday, with the benchmark DAX up 85.61 points or 0.34% at 25,510.02 by noon, extending gains from the previous session. Automakers were broadly higher following reports that France and Germany are pursuing a new initiative to revive the auto industry, with Volkswagen surging 3.6% and Mercedes-Benz rallying 4%. Mercedes-Benz Group reported a second-quarter net profit of 1.065 billion euros, up from 915 million euros a year earlier, while Daimler Truck Holding and BMW moved up 3.75% and 3.7% respectively. Among other gainers, Rheinmetall jumped more than 4% and MTU Aero Engines climbed 3.7%, while Siemens Energy and Infineon Technologies shed 2% and 1.9% respectively.

The American robotics industry has entered a decisive acceleration phase in 2026, with June and July emerging as a landmark period across physical AI, surgical systems, defense autonomy, and elder care. In June, BMW Group announced plans to deploy Figure AI's third-generation Figure 03 humanoid at its Spartanburg plant, while NEURA Robotics closed a Series C worth up to $1.4 billion, and humanoid startups have raised $8.6 billion in 2026, 1.8 times the full-year 2025 total. On July 22, the FDA granted de novo authorization to Johnson & Johnson's Ottava system for ten general surgery procedures, breaking a long era of single-platform dominance, and Medtronic unveiled its AI-native Touch Surgery Aide platform. Defense robotics drew fresh capital with Mach Industries raising $300 million and Shifters securing $10.2 million, while the global elder care assistive robot market is projected at $3.9 billion in 2026, reaching $9.8 billion by 2033. Synopsys raised its fiscal 2026 revenue guidance to $9.665 billion at midpoint, AMD unveiled its Ryzen AI Embedded X100 Series for robotics, Manhattan Associates reaffirmed full-year guidance of $1.15 billion in revenues, and UiPath targets fiscal 2027 ARR of approximately $2.06 billion.

The global automotive head-up display market is projected to grow from USD 2.41 billion in 2026 to USD 4.71 billion by 2033, a compound annual growth rate of 10.1%. Market expansion is driven by increased emphasis on driver safety, reduced distraction, and real-time visualization of critical vehicle information, alongside growing adoption of connected vehicle ecosystems, advanced driver assistance systems, and digital cockpit technologies. Hardware represents a major share of automotive HUD cost, with 2D HUDs accounting for more than 85% of the market, while software requirements become more significant in augmented reality and ADAS-enabled platforms. Europe remains a significant market supported by premium OEM presence and stringent safety regulations, with companies including BMW, Audi, and Mercedes-Benz deploying HUD systems as standard or optional features. In North America, increasing production of semi-autonomous vehicles and declining display costs are opening opportunities beyond premium vehicles and supporting greater penetration across mid-range segments.

Viasat has demonstrated the first satellite voice call fully integrated into a vehicle's infotainment system, using a BMW iX3 during the 5G Automotive Association Meeting Week in Munich. The demonstration combined Viasat's L-band satellite network with Qualcomm's Snapdragon Auto 5G Modem-RF Gen 2 solution, Cubic³'s eSIM capabilities, and the Fraunhofer IIS NESC AI voice codec to enable voice calls via the NB-IoT protocol directly through the BMW Group's in-vehicle architecture. This integration aims to provide reliable voice and messaging connectivity beyond the reach of traditional terrestrial networks, supporting emergency assistance and critical safety applications in remote areas. Viasat, BMW Group, Cubic³, and Fraunhofer IIS are all members of the 5GAA, which is working to develop scalable connectivity solutions for the automotive industry.

BMW Group has launched a new connected vehicle platform in the U.S. in partnership with Verizon and KDDI, bringing 5G and IoT connectivity directly into newly manufactured BMW vehicles for telematics and infotainment services. The move marks a shift toward more integrated, software-centric car services for Bayerische Motoren Werke customers. BMW shares trade around €57.32, having declined 14.4% over the past month and 40.5% year to date.

Verizon Communications is expanding into connected vehicles through a new partnership with BMW Group and KDDI, focusing on 5G automotive services in the U.S., while also introducing the Gizmo Watch 4, a next-generation kid-focused wearable with new safety features and family rewards. The BMW and KDDI collaboration will integrate Verizon's 5G Standalone network into new BMW and MINI vehicles, tying its infrastructure to automotive platforms where connectivity is becoming a core feature. The Gizmo Watch 4 is tightly linked to the Verizon Family app, loyalty program, and Shine rewards, keeping Verizon involved in early-stage customer relationships. Additionally, Verizon was identified as a key participant in the high-growth Unified Communication as a Service market, pointing to its role in cloud-based collaboration and remote work tools alongside peers such as AT&T and T-Mobile.

Verizon Communications has partnered with KDDI Corporation to provide 5G Standalone and LTE connectivity for newly manufactured BMW Group vehicles in the United States. The agreement covers BMW, MINI and other BMW Group vehicles, supporting the automaker's ConnectedDrive platform with advanced telematics, remote functions, digital infotainment and app-based services. Verizon's nationwide 5G infrastructure will work in collaboration with KDDI's Global Communications Platform to ensure secure, reliable data transmission. Newly manufactured BMW Group vehicles will be the first to operate on Verizon's nationwide 5G Standalone offering, powered by its 5G core and built-in 3GPP Release 16 industry standards. The deal strengthens Verizon's position in enterprise wireless services and expands its automotive portfolio, which already includes telematics services for Volkswagen Group brands.

Sales of imported light passenger vehicles in South Korea jumped 37% to 38,059 units in June 2026, up from 29,860 units a year earlier, according to the Korea Automobile Importers & Distributors Association. In the first half of 2026, import sales surged 33% to 184,032 units, strongly outperforming the country's five main automakers, whose combined domestic sales fell 3% to 663,491 units. Tesla led the import segment with deliveries nearly tripling to 56,139 units, capturing a 30% share, though it faced criticism for raising prices just after qualifying for new BEV incentives introduced in July. BMW slipped to second place with sales rising just over 2% to 39,150 units, while Mercedes-Benz sales fell 9% to 29,776 units. BYD made strong inroads with sales jumping ninefold to 7,023 units, but failed to qualify for the new points-based BEV subsidies and plans to focus more on plug-in hybrids.

BMW has completed a $1.7 billion investment to expand its U.S. manufacturing footprint at Plant Spartanburg and unveiled its first fully electric model assembled in the United States, the iX5, alongside the new X5. The company plans to produce at least five additional electric models in South Carolina by 2030. The expansion places the Spartanburg plant at the center of BMW's electric vehicle strategy. The stock currently trades around €60.12, having gained 4.6% over the past week but declined 14.6% over the past 30 days and 37.6% year to date.

The 13th Monaco Energy Boat Challenge will take place from 8 to 11 July 2026, bringing together 54 teams from 21 countries at Yacht Club de Monaco. Over four days, young engineers will test prototypes featuring electric, hydrogen, methanol, and AI technologies in real sea conditions. The free public Village, open 10am to 6pm from 9 to 11 July, offers visitors close-up access to innovations, daily prize-giving ceremonies at 5.30pm, and live race broadcasts. Supported by the Prince Albert II of Monaco Foundation, UBS, BMW, SBM Offshore, and others, the event includes an E-Dock with fast-charging stations, a Job Forum, and conferences on advanced yachting technology and alternative fuels. Since 2014, the challenge has involved over 6,500 students and around 50 universities, serving as an open-air innovation laboratory for the yachting sector's energy transition.