The Smíchov terminal will increase in price by billions. Vaccination pharmaceutical companies and health ministers are heading to Prague. Prices for renting warehouses in Prague shot up. Škoda is increasing investments in innovation. Stock market bubbles burst all at once.
Can’t keep up with business during the work week? We have compiled for you an overview of the most interesting things that we wrote about in the E15 diary in the past week.
Although the construction of the Smíchov Terminal is close to obtaining a zoning decision, the designers, together with the city and other investors, continue to improve the project. Charging docks for electric buses should be completely new. Priority will also belong to the parking garage, in which half of the thousand parking spaces will be adapted for electric cars. The use of photovoltaic panels is also discussed. All these ambitious plans inflated the budget from the original 2.16 billion to the current five billion crowns. The terminal is scheduled to be operational in 2028.
It will be a crucial meeting that will determine the protection of Europeans against the covid pandemic in the coming months. At the same time, it will be a billion-dollar business. In a few days, the ministers of health of the European 27 will meet in the Prague Congress Center with the heads of the pharmaceutical giants, the American Pfizer and Moderna, to agree on new rules and vaccine supplies.
The cost of renting modern warehouses in Prague rose by more than a third year-on-year. Compared to the average of European capitals, the rate of price increase was five times faster. The main reason is the lack of free space. Prague has become a popular destination for manufacturing and logistics companies returning to the European continent mainly from Asian countries. The advantage of the Czech Republic is its central location and affordability.
In the next five years, Škoda Auto will invest approximately 138 billion crowns in electromobility and approximately 17 billion in digitalization. Even last year, the investment should have been a quarter of what it is today. The automaker will launch three new purely electric models by 2026, with others to follow. The share of purely electric cars in the brand’s sales is to increase to more than 70 percent in Europe by 2030.
The end of the holidays prepared a scenario of total disaster for the stock market. In the last two weeks, the prices of risky assets and traditional safe havens have fallen hand in hand. For example, both investors in global shares and gold have gained more than five percent since mid-August. The cryptocurrency market met a similar fate, as did the high-quality bonds of the developed countries of the world.