JPMorgan To Move $230 Billion to Germany Post-Brexit

American bank JPMorgan is transferring billions in assets to German banking capital Frankfurt in reaction to the United Kingdom’s departure from the Europe at the end of 2020. That would make it the sixth largest bank in Germany.

Tesla Gigafactory Sets New Construction Speed “Record”

US electric carmaker Tesla has gotten off to a flying start in its goal of completing its first European “gigafactory” in Grünheide near Berlin.

Hyundai Comes to Bavaria

South Korea’s Hyundai Robotics has opened up its first Continental European office in Ismaning, just north of Munich.

Funding Bonanza for Auxmoney

Düsseldorf fintech start-up Auxmoney landed the coup of 2020 thus far in early September, raking in EUR 150 million in financing from New York VC fund Centerbridge.

Japanese Power in Saxony-Anhalt

Japanese battery and fuel-cell specialist HORIBA Fuelcon is investing EUR 30 million in expanding the Technologiepark Ostfalen technology center in Barleben in the eastern German state of Saxony Anhalt.

Czech Online Supermarket Expands to Germany

One of the winners from the disruption caused by the coronavirus pandemic in Germany are online food delivery services. So it’s no surprise that online supermarket Rohlik from the Czech Republic is setting up shop in its larger neighbor.

Huawei’s Berlin Flagship

The Chinese tech giant is opening global flagship store on Berlin’s luxury boulevard Kurfürstendamm.

Windfall for Omio

The travel industry has been very hard hit by the corona pandemic and its various restrictions. But Berlin start-up Omio is bucking the trend in a big way. The travel platform has just taken in EUR 100 million in additional venture capital from investors including Goldman Sachs.

Taking a Spin in Germany

US automaking giant Ford has joined the German e-scooter market. This summer, Ford subsidiary Spin rolled out two-wheelers in the western German cities of Cologne, Dortmund and Essen.

Bootstrap Germany

Over the past decade, Germany has turned itself into a hot destination for international start-up investors. Berlin is particularly attractive to innovative, young technology companies, while other parts of the country are drawing entrepreneurs in the green energy and solutions sectors. Lower rents and salaries are undercutting Silicon Valley.