The Czech government needs to invest hundreds of billions of crowns to shore up the economy, with the crucial auto industry particularly vulnerable. Measures being taken now will alleviate the unemployment that will inevitably follow the coronavirus crisis. And the weak crown is of no benefit to exporters if they aren’t producing anything. So says the vice president of the Czech Confederation of Industry, Radek Špicar, who I spoke to late last week.
The Confederation of Industry of the Czech Republic has called on the
government to present its plan on the gradual lifting of restriction
measures for businesses by Easter.
Industry representatives are particularly interested in the conditions the government plans to put in place for companies to start operating again. This, because they need time to prepare, Confederation of Industry Vice-President Radek Špicar said in a videoconference on Friday.
Business activity in the country was hit harder than expected by the government's restrictions put in place to curb the spread of the COVID-19 coronavirus. The country's dominant services sector has suffered particularly hard losses
Škoda has announced the name of its first electric SUV. The latest Škoda model, which is still in development and should hit the market in 2022, has been named Enyaq. The name starts with the letter E symbolizing electromobility and ends with Q, which the brand uses in the names of all its SUV models. The name is derived from the Irish word enya meaning "source of life." Enyaq is the latest in a series of Škoda SUV models, following up on Kodiaq, Karoq and Kamiq.
The Czech Republic’s industrial production has declined for the first
time in five years: it suffered a drop by 3.4 percent in December, the
Czech Statistics Office reported on Thursday. The development was affected
mainly by a lower production of motor vehicles, other transport equipment
According to preliminary data, the country’s external balance in goods ended in a deficit of CZK 6.7 billion, which was worse by CZK 2.1 billion than in the previous year.
Exports decreased year-on-year by 2.4 percent to CZK 247 billion while imports fell by1.5 percent to 253.7 billion.
Czech utility ČEZ plans to build a 'gigafactory' for batteries
for cars in North Bohemia in the coming years that would use lithium
discovered in the Ore Mountains near Cínovec, on the German border.
Minister of Industry and Trade Karel Havlíček said during a visit to Berlin on Wednesday that ČEZ plans to use lithium stocks from both countries.
The Czech Republic has the biggest lithium reserves in Europe and many politicians have pushed for its mining to be in the hands of a state-controlled company, such as ČEZ.
The Czech government has approved measures to monitor the environmental impacts of the planned expansion of the Turów brown coal mine located in the close proximity to the Czech border. The expansion was approved by the Polish authorities, despite Czech concerns that it would threaten water sources for villages on the Czech side, as well as severely increasing noise and dust pollution.
Czech geologists and geophysicists have been hard at work drilling the deepest geothermal borehole in all of central Europe. The borehole, on the outskirts of the northern Bohemian town of Litoměřice, is a staggering 1.6 kilometres deep – so far. The ambitious project is part of an ongoing effort to wean the county off of coal, which pollutes the air and accelerates global warming.
The car maker Skoda produced 910,000 vehicles in its three Czech plants in
2019, which represents a year-on-year increase of 2.25 percent, according
to an annual report sent to the ctk news agency.
Overall production was down by 0.9 percent due to a drop in demand on Chinese and Indian markets.
The company’s three Czech plants are in Mladá Boleslav, which manufactured 590,000 cars last year, half of which were the popular Octavias, as well as the Fabia, Scala, Kamiq a Karoq; in Kvasinky which specializes in SUVs and in Vrchlabí which produces car components.
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