Magna Steyr in Graz has signed a preliminary agreement with the California-based car manufacturer Fsiker to potentially build a battery-powered electric luxury SUV.

Under the leadership of Infineon Austria, the project “iLIDS4SAM” is carrying out research on sensor systems that provide autonomous road and rail vehicles with a three-dimensional image of their surroundings and enable the vehicles to more effectively anticipate danger situations. The project encompasses the entire technology, application and testing chain.

Starting in 2021, Novartis will exclusively produce a new retina drug at its Tyrolean plant in Kundl, designed to combat wet age-related macular degeneration.

Competitiveness: In a comparison of 63 countries, Austria moved up three notches, from 19th to 16th place, thus overtaking Germany.

In 2019 Bosch made considerable investments of capital and human resources at its Austrian sites. It is attaching particular emphasis on R&D.

In 2019, BMW invested € 374 million in the Austrian production facility in Steyr which manufactures close to half of all BMW engines.

EY Attractiveness Survey: Austria registered a record year as an investment location in 2019, showing an increase of 73%.

The Biobank of the Medical University of Graz is building up a collection of COVID-19 samples in order to further develop testing procedures and also conduct research into prognosis markers for the progression of the disease.

The Austrian Federal Government is making € 23 million in funding available for drug research to fight the coronavirus. The financial support primarily targets projects designed to conduct research into the effectiveness of existing drugs as a means of combatting the coronavirus. The additional funding is designed to accelerate the required clinical studies.

The current restrictions by the Austrian government for combating the COVID-19-pandemic lead to several complex legal and tax questions. Deloitte advisors respectively Jank Weiler Operenyi / Deloitte Legal advisors inform you about possible legal and tax implications and developments.