Berlin (ots) - Germany Trade & Invest’s annual survey of foreign direct investment indicates that, despite a variety of challenges, companies are continuing to expand at a high rate in and to Europe’s largest economy. 1724 companies from abroad announced greenfield and expansion projects last year – that’s according to 2024 FDI Report compiled by Germany’s ...
Berlin (ots) - The American artificial intelligence software giant is planning its first German office in Munich. The company, best known as the creator of the chatbot ChatGPT, said that the new office would open in the coming months. As one reason for its expansion, OpenAI cited the fact that, in Europe, Germany has the greatest number of users, paying subscribers and API developers building on OpenAI’s technology. “Germany is renowned for its technical expertise, ...
Berlin (ots) - Exports to the United States have propelled the US to the top of the list of Germany's business partners. According to calculations by Germany Trade & Invest, Germany’s international business promotion agency, trade between Germany and the US reached €255 billion in 2024, marking an annual increase of 0.8%. Meanwhile, trade with China decreased by 2.9%, falling to €247 billion. This is the first time ...
Berlin (ots) - Swedish energy company Vattenfall has announced an ambitious investment plan, pledging to invest more than EUR five billion by 2028 into renewable energy, e-mobility, and other sustainable solutions in Germany. "Germany is the fastest-growing market for renewable energy in Europe," said Vattenfall's ...
Berlin (ots) - The American IT giant has selected the southwestern German town of Ehningen as the site for its second quantum computing facility worldwide. At the inauguration ceremony, German Chancellor Olaf Scholz highlighted that Germany has invested more than EUR 2 billion in quantum computing. “There is a great deal of capacity and willingness to use these facilities for research,” Scholz said. “We have the ...
Berlin (ots) - The number of new industrial robots deployed in Germany rose by 7% in 2023 – marking the largest annual increase ever recorded. According to the International Federation of Robotics' "World Robotics 2024" report, 28,335 new industrial robots were installed in Germany. This significant rise is especially notable as robot installations declined in the world's four leading countries for robotics: China, ...
Berlin (ots) - Dutch company AMG has opened Europe’s first lithium refinery plant in the eastern German area of Bitterfeld-Wolfen, as the German government pledges a billion euros to support domestic and international raw materials projects. The refinery is expected to produce 20,000 metric tons of battery-grade lithium hydroxide annually – sufficient to supply around half a million electric vehicle batteries. This ...
Berlin (ots) - The Taiwan Semiconductor Manufacturing Company (TSMC) has begun work on a 10-billion-euro plant in Dresden as the European Union approves state assistance for the project. The symbolic ground-breaking ceremony in the eastern German city coincided with the European Commission’s approval of €5 billion in state subsidies for the chipmaker, providing a boost to the initiative. "The European Commission has ...
Berlin (ots) - French pharmaceutical giant Sanofi has confirmed it will invest 1.3 billion euros to expand insulin production in the western German city of Frankfurt am Main. Sanofi says the expansion will encompass around 36,000 square meters – the equivalent of five football fields – on the company’s existing BioCampus site. It will go operational in 2029. The project is being supported by the German national ...
Berlin (ots) - Germany’s Federal Statistical Office says that 2022 turnover in goods and services in the sector reached 107.5 billion euros – an annual increase of 16.9 percent. Environmental protection is big business in Europe’s largest economy. And it’s grower bigger by the year, as the government figures show. The largest share of the nearly 108 billion euros of turnover in the sector came in climate ...
Berlin (ots) - In a new report, the Organization for Economic Co-operation and Development found that Germany was a world-class environment for AI and pointed out room for further development and growth. The OECD study “Artificial Intelligence Review of Germany” praised Europe’s largest economy for showing “vision” and “leadership” in becoming one of the ...
Berlin (ots) - The German automotive industry association VDA says that 995,000 purely electric vehicles rolled off German assembly lines in 2023. All told, some 1.27 million purely electric (BEV) and hybrid (PHEV) vehicles were made in Germany in 2023, the second highest number in the world behind China. China dominates global EV production, but the vast majority of its cars are sold domestically. By contrast 76 percent ...
Berlin (ots) - European largest economy generated and fed into the national grid 121.5 billion kilowatt hours of electricity in the first quarter of 2024. Renewables accounted for 58.4 percent of all electricity produced in Germany in the first three months of this year. That is more than for any quarter since statistics of this sort began to be collected in 2018. The 121.5 billion kilowatt hours represented an annual ...
Berlin (ots) - The volume of international business expansions to and in Europe’s largest economy increased by over 37 percent last year. Germany attracted 34.8 billion euros worth of international business projects in 2023 – that’s the result of Germany Trade & Invest’s (GTAI) annual FDI study. The figure includes both greenfields and expansions. It does not include any mergers or acquisitions. The comparable ...
Berlin (ots) - EUR 121.4 billion was spent in Germany on reasearch and development - more than ever before in a single year. According to the Federal Statistical Office, the amount of money devoted to R&D rose by seven percent in 2022, reaching an all-time high. The figures include commercial, university and non-university research. R&D investments by businesses grew by eight percent, reaching EUR 81.8 billion. That's ...
Berlin (ots) - Ten percent - that was the annual decrease in German CO2 output last year, according to the Federal Environmental Agency (Umweltbundesamt). Germany emitted 673 million tons of greenhouse gasses in 2023, 76 million million tons fewer than the previous year. That represents a reduction of around ten ...
Berlin (ots) - Germany has introduced new legislation that will relax entry requirements for qualified non-EU professionals who wish to live and work in the country. As of March 1, 2024, a major part of the legislative package to modernize German residence law will come into force in Europe’s largest economy. Easements for the EU Blue Card have already been in place since November 2023. The new support measures mainly ...
Berlin / Brake (ots) - Lhyfe, a leading European producer of green and renewable hydrogen for transportation and industrial applications, is set to begin construction of a 10 MW green hydrogen plant in Brake (Unterweser). The groundbreaking ceremony for the production plant took place on February 1 in the port area of Niedersachsen Ports, the country's largest public seaport operator. According to Lhyfe, the new facility ...
Berlin (ots) - Leading digital industry association Bitkom says that the sector is poised to outperform other parts of the German economy in the coming year. Bitkom predicts that the German information technology and communications market will grow by 4.4 percent in 2024 – three to four times as much as prognoses for German GDP as a whole. In 2023, the industry grew by 2 percent, reaching EUR 215 billion, according to ...
Berlin (ots) - Despite negative headlines and transnational economic challenges, a lot went right for the German business sector in 2023, says the country’s international economic promotion agency, Germany Trade & Invest. German GDP may have been stuck treading water in 2023, but that didn’t deter major international companies from launching major expansion projects in Europe’s largest economy. In August, Taiwanese ...
Berlin (ots) - The country with Europe’s largest economy has eased the requirements for non-EU nationals, particularly those with needed skills, to gain employment permits. As of November 18, rewritten legislation in Germany makes it easier for people from outside the EU who wish to live and work in the country. Under the new Skilled Immigration Act and the new EU Blue Card, people with a university degree and a job ...
Berlin (ots) - Germany is offering support to property owners to install chargers for electric vehicles – applications exhausted the EUR 300 million allocated for 2023 in a single day. The new assistance program is administered by Germany’s development bank, the KfW, and is capped, for the moment, at EUR 500 million. The KfW says that after 33,000 were applications filed within 24 hours, no more requests will be ...
Berlin (GTAI) (ots) - Taiwanese semiconductor manufacturer TSMC plans to construct a massive new production facility in the eastern German city of Dresden. The volume of its Dresden expansion will be at least EUR 10 billion. The new plant for 300-millimeter semiconductors will be located in the heart of the electronics hub often known as “Silicon Saxony.” The German government and the EU will reportedly offer major ...
The latest edition of Germany Trade & Invest's German business podcast, Into Germany, features four pharma industry leaders and experts discussing the future of the sector. BioNTech and Beyond is the topic of the latest episode of the monthly German business podcast Into Germany. Helping us understand where German biotech is heading in the wake of the coronavirus pandemis are Laura Matz and Maike Becker-Krüger from the ...
Berlin (ots) - Despite recent dips in financing, more and more young technology companies are being founded in Europe’s largest economy. The recovery is being driven in part by the intense interest in artificial intelligence applications. The numbers of new start-ups in Germany is back on the rise. That’s the conclusion of a survey done by the Internet platform Startupdetector in association with Germany’s Start-Up ...
Berlin (ots) - The European Council has approved new regulations requiring batteries to be far more recyclable. The rules mean novel business opportunities in Germany. Under the regulations, producers will be responsible for collecting set percentages of waste portable batteries (63% by the end of 2027 and 73% by the end of 2030). Moreover, they will have to meet dedicated collection objectives for waste batteries from ...
Berlin (ots) - Europe’s largest economy is backing the initiative to optimize conditions for fledgling companies throughout the European Union and Iceland. Germany’s startups commissioner, Anna Christmann, has announced that Germany is becoming a member of the Europe Startup Nation Alliance (ESNA). She made her statement today at the Viva Technology Conference in Paris, France. The German Ministry for Economic Affairs ...
Berlin (ots) - German government spending on energy research rose by 13 percent last year. That’s according to the Ministry for Economic Affairs and Climate Action’s (BMWK) annual report on the topic. The state invested EUR 1.11 billion in 7365 running and 1661 new energy research projects. Almost EUR 320 million in additional money went to the Helmholtz Society, one of the largest research organizations in the world. ...
Berlin (ots) - The German Ministry of Digital and Transportation is putting more than EUR one billion into climate-friendly transport vehicles. This additional money comes after the ministry received four times as many applications for support for projects in its 2022 round of funding compared compared with 2021. “The market for emissions-free transport vehicles has begun to take off,” said Digital and Transport ...
Berlin (ots) - The governing German cabinet has approved plans for to establish a core network to distribute hydrogen as an energy carrier throughout the country. The proposed legislation is part of Germany’s ambitious strategy to become CO2-neutral in years to come. Green hydrogen is an integrtal part of those plans. “Our goal is to rapidly scale up the hydrogen ...
