Automotive
Automotive
Automotive
Sector at a glance
The automotive sector is at the heart of Czech industry and leads the country’s exports. Apart from highly successful foreign OEM investments (e.g. Volkswagen, Toyota-Peugeot-Citroen, Iveco), the country hosts hundreds of automotive suppliers. The recently opened TPCA car plant (Toyota Peugeot Citroen Automobile) is sourcing 75% of components locally.
The Czech Republic has recently succeeded in attracting the major new investment of Hyundai Motor Corporation which plans to develop a state of the art automotive assembly plant at NoĹĄovice in the Moravia-Silesia Region. Over the next 3 years the company will invest 800 million – 1 billion Euro and reach production of 300,000 cars a year.
Slovakia has also attracted major OEM investment with the recent establishment of the PCA (Peugeot Citroen Automobile) and Kia car plants, as well as many of their key suppliers. The Renault acquisition of Romania’s Dacia car plant has boosted investment in the automotive sector in that country.