Context: Gothenburg - a growth region
Gothenburg has been named one of Europe’s top future cities by the Financial Times FDI Magazine, which every other year ranks Europe’s future cities and regions at the international property fair Mipim in Cannes.
Gothenburg’s engineering expertise and the city’s relationship with China are a few of the reasons why the city has become a second home for Chinese auto giant Geely, explained CEVT’s deputy-CEO Gang Wei at the real estate event Lokalmarknadsdagen.
For the third consecutive year the Gothenburg region had the lowest unemployment rate among Sweden’s metropolitan regions. Meanwhile, unemployment is six times higher among foreign-born residents, but job growth has been strong, shows a new report from Business Region Göteborg.
IT giant HCL Technologies has been awarded the key to the heart of Gothenburg following its recent large scale establishment in the city.
“It means a great deal for the region’s global competitiveness that the IT sector is strong, as digilisation is driving many other processes,” says Patrik Andersson, CEO at Business Region Göteborg.
Gothenburg’s already strong economy saw further improvement during the autumn and expectations for the spring are even more optimistic. At the same time, falling real estate prices are causing uncertainty among buyers on the property market. But major price drops are unlikely as long as the economy remains strong, according to Henrik Einarsson, head of the Establishment and Investment department at Business Region Göteborg.
Interest in the Gothenburg region has probably never been greater than it is now. To help investors and companies discover the opportunities the Gothenburg region offers, we’ve created a new website www.investingothenburg.com. Here you’ll find keys facts, arguments and contacts that will help do business in the region.
The general boom in combination with an incredibly strong automotive industry as well as extensive urban development projects are making the Gothenburg region’s economy red-hot. But supply of expertise continues to be a problem, according to Business Region Göteborg’s latest Economic Outlook report.
On 28 March 2017 the number of people living in the Gothenburg region will surpass one million. The number has a strong symbolic value, according to Business Region Göteborg’s Henrik Einarsson.
We have now released this year’s Facts & Figures – the most comprehensive compilation of facts and statistics on the Gothenburg region’s business environment.
After a small dip in the third quarter the labour market gathered speed at the end of last year and in early 2017. The uncertainty abroad hasn’t affected the strong economy in the Gothenburg region.
Gothenburg’s accessibility receives a lift with new direct flight routes in 2017. The city’s major airport now offers non-stop flights to around 100 destinations.
A world without medical errors. And with Sweden as the world leader in e-health, the US-headquartered company Cerner is taking things to the next level in Gothenburg to reach its highly ambitious goals. "There's no shortage of innovative drive and expertise here," says Steven Gallagher, Vice President Business Development & Political Affairs Europe at Cerner.
Context: The disruptive transformation of the automotive industry
A one-stop shop where startups can meet with five major companies, pitch their ideas and enter into some form of collaboration on the transport of the future. That's the idea behind the newly founded MobilityXlab in Lindholmen.
"We want to try to broaden and strengthen Gothenburg's position," says Dennis Nobelius, CEO of Zenuity, one of the founding companies.
A green, open and inviting campus where many actors meet to create the future transport solutions. This is the idea behind Campus Lundby which will be Volvo’s global centre for development. The aim is to break ground in 2019.
The world's automotive industri is about to turn upside down. And Gothenburg is at the forefront conducting world leading research. This conversion is, at the same time, a great opportunity and a fate for the Gotheburg region.
Eye tracking, entertainment, apps and smart security. Extreme specialists will be the winners when the automotive industry's supply chain is remodelled from scratch.
As cars take over increasingly more tasks, drivers have time for other things. This is why the digital driver environment is the automotive industry's next big thing. And it's a business that's growing rapidly in Gothenburg.
Business Region Göteborg's Lars Bern, Sector Manager Innovation, explains what the SEK 1 billion investment in a new test environment for electric vehicles in Lindholmen means.
"I believe that this investment in a test bed for sustainable vehicle solutions will result in everything from academic research to innovation startups."
Geely Innovation Center Europe is an important addition to Sweden as a research nation. Western Sweden's automotive cluster will be further strengthened and made even more attractive.
When the internet went mobile and Apple launched the iPhone, people's lives and the business logic of most industries was changed forever. But what we're seeing now in Gothenburg's automotive industry is even bigger.
The development of self-driving cars is encouraging brand new partnerships in Gothenburg. Volvo Cars and Autoliv are investing heavily in their joint venture Zenuity. Parallel to this, the way is opening for innovative startup companies.
The expertise found in western Sweden's automotive cluster weighed heavily in Chinese automotive group Geely's decision to build its European innovation centre at Lindholmen Science Park in Gothenburg. This investment will see the construction of a new building with some 70 to 80 thousand square metres of floor space for more than 3,500 people.
A self-driving car can steer itself using its sensors, but also needs an overall strategic plan. This is something that HERE Technologies is working on with its latest mapping technology where the map helps the sensors put the car in context in real time.
"Eventually, these systems will be so good that they'll be able to assess every situation on the roads," says Petter Djerf at HERE in Gothenburg.
The Swedish government has promised to invest SEK 1 billion in a new test environment for electric vehicles in Lindholmen. This further strengthens the Gothenburg region's position as one of the world's leading clusters in the transformation of the automotive industry.
Smart vehicles are creating new business opportunities for Ericsson. The company's operations in Lindholmen are part of the digitisation of the automotive industry and transportation systems, a development that favours Gothenburg.
World-class innovation capacity and invaluable automotive expertise. Those were the deciding factors when Toyota chose to locate its development unit for automated forklifts in Lindholmen. And in just a few years, Toyota Material Handling Logistics Solutions has grown dramatically – and expects to more than double its employee numbers in the coming years.
Sweden’s exports to China outweigh the imports for the first time in 13 years. The main reason is the record growth of car exports from Gothenburg. During the first half of the year, sales of Swedish cars to China increased by 1.4 billion Swedish krona, according to this year’s third Economic Outlook report from Business Region Göteborg.