|
|
Article: Czech Republic a[euro]" Rapidly Developing Automobile R&D Hub in Europe.
- Article from:
- M2 Presswire
- Article date:
- April 1, 2009
CopyrightCOPYRIGHT 2009 M2 Communications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
M2 PRESSWIRE-1 April 2009-RNCOS: Czech Republic a[euro]" Rapidly Developing Automobile R&D Hub in Europe(C)1994-2009 M2 COMMUNICATIONS LTD
RDATE:01042009
After conquering the economic and political transformations in the early 90s, the automobile industry of the Czech Republic has emerged as a leading contributor in the country's economy.
The global automobile crunch severely affected the Czech economy. The slowdown in the European demand pushed the production of auto-parts and automobiles in the country. It is noteworthy that 10% of the GDP and one-fifth of the Czech Republic's overall industrial output are accounted by the automobile sector.