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Czech auto industry accumulating energy for e-mobility transition
Kind: ICD What's New  Organization: Department of International Cooperation  Publish Date: 2021-11-22 11:21
The automotive industry has always been the core of the Czech economy, accounting for about 26% of the nation's industrial output and more than 9% of GDP. In addition, the Czech Republic hosts factories for three automakers--Skoda, Hyundai and Toyota-Peugeot-Citroen (TPCA)-all of which have launched at least some all-electric or hybrid vehicle production.

In particular, Skoda said it is developing its home country, the Czech Republic, into an "e-mobility" hub and plans to turn its three plants in the country into EV production centers over the next 10 years.

Meanwhile, Vitesco Technologies, the drivetrain subsidiary of German giant Continental, has said that its Czech operations are now "fully focused on electrified mobility" and preparing for the transition.

Vehicle industry experts emphasize that the challenges of transformation can present both opportunities and risks, and that the upgrading of the Czech industry will lead to research and development and other high value-added services, as well as contribute to the modernization of the economy as a whole.

For that to happen, the industry has urged the government to also get on board. The government's main program is Transportation 2020+, which will put 50 million euros (US$ 56.8 million) into supporting innovation in sustainable transport by 2026, with cooperation between companies and the Czech Republic's strong technical academic sector seen as key.

Furthermore, according to Czech media outlet expats.cz, the EU Finance Minister has approved the Czech National Recovery Plan with funds of CZK 180 billion (US$ 8 billion). The Czech government has pledged to allocate 1.2 billion euros from the 7.2 billion-euro EU Recovery and Resilience Fund to sustainable and clean transport projects.

With the cooperation of the government and the private sector, the Czech Republic's preparation for the electric transformation will create more business opportunities in the future.

Sources: Deutsche Welle, Taipei Economic and Cultural Office Prague
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Update: 2020-04-23
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