A day in business: The next government will have to “pick up” the industry from its problems

The automotive industry is asking the government for help

The return of Antivirus is at stake. This time only for the automotive industry. The most powerful man of the Volkswagen Group, Herbert Diess, came to the Czech Republic. The management of Škoda Auto is dealing with the government about the lack of chips and the shutdown of production.

We will find out in half a year if the Germans will build a Gigafactory in the Czech Republic

Volkswagen postponed the decision on the construction of the so-called Gigafactory for the production of car batteries by half a year to the first half of 2022. The Czechia is also applying for the location of the factory. Deputy Prime Minister Havlíček and Prime Minister Andrej Babiš and Volkswagen Chairman of the Board Herbert Diess thus signed only a memorandum on support for the construction of 3,000 charging stations for electric cars in the Czech Republic.

Inflation continues to rise, attacking the 5% mark

All this at a time when the Czechia is facing a slightly faster rise in price. Rising inflation is one of the challenges for the next cabinet. The Czech National Bank and analysts assumed this. In September, prices rose the fastest since October 2008 – by 4.9 percent.

The costs of own housing, fuel, tobacco, cars, clothing, catering in restaurants and household furniture increased year-on-year. In September, the jump in energy prices has not yet been reflected in prices, which will begin to show in October and the following months.

The current development thus recalls the year 2008, when inflation was around seven percent and higher. At that time, however, it was screwed up by the increase in VAT, while today the causes are different. Inflation will continue to be driven by domestic factors, such as rising real estate prices or construction work prices.

Musk showed Tesla’s European factory

Tesla’s first European factory is growing near its neighbors in Germany. It is to produce up to 10,000 electric cars a day. Although it is almost done, it is still waiting for the final permission of the authorities and faces the displeasure of the locals. That’s why Elon Musk organized a Giga Fest for them right there – with music, attractions, food and a free tour.

Keep an overview of business events from previous days in a quick video HEREif you want a quick overview of today’s economic news, go HERE, and if you are really interested in business and want to see its top form, look SEM.

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