UK COMPANIES TAKE UP ESTONIA’S OFFER

British entrepreneurs are flocking to become “e-residents” of Estonia to take advantage of company formation rules and avoid the economic fallout from leaving the European Union. The scheme, which was set up in 2014, allows non-Estonians access to services such as company formation, banking and taxation. Since then, 3,372 British citizens have become e-residents of Estonia, more than a third of them in the past 18 months. The programme does not grant individuals citizenship but enables them to remotely set up a company in Estonia without it physically being based there. It allows them to retain regulatory alignment and access to the EU single market. Applicants must pay a €100 fee and 20 per cent corporation tax on any businesses registered in the country. SOURCE: thetimes.co.uk

EU CAR EXPORTS TO CHINA GROW

The Chinese market has continued to unleash potential for European multinational firms gradually recovering from the early impact of the coronavirus pandemic, a reassuring factor amid uncertainties still surrounding the global economic outlook. Over the past week, German automakers have been posting upbeat data for their Chinese market performances while growth in other major markets remained below prior-year levels. Audi Group said on Friday that car deliveries in China rose by 4.4 percent year-on-year in the first three quarters, while all the other major markets saw a two-digit decline. Demand for the Audi models in China, in particular, rose significantly by 17.8 percent in the third quarter, the company said. SOURCE: ecns.cn

HYDROGEN IS THE FUTURE

Governments, energy giants, automobile companies and lobbying groups say hydrogen use is pivotal for cutting greenhouse gas emissions quickly enough to prevent the worst effects of climate change. That’s triggered a global race to stake claims in what could be a $700 billion business by 2050, according to BloombergNEF. The European Union aims to push as much as €470 billion ($550 billion) toward hydrogen infrastructure; China, Japan and South Korea will all likely use hydrogen to achieve recent pledges to slash emissions; and Saudi Arabia plans a $5 billion hydrogen-based ammonia plant powered by renewable energy. SOURCE: japantimes.co.jp

Hydrogen will play a major role in tomorrow’s sustainable mobility. Convinced of the promising future of this zero emission technology, ElringKlinger and Plastic Omnium plan to take hydrogen-based fuel cell technology to the next level. To fulfil this objective, they will create EKPO Fuel Cell Technologies, a joint venture dedicated to fuel cell stack development, production and commercialization. EKPO Fuel Cell Technologies will offer its product portfolio to a broad range of customers including hydrogen systems integrators. SOURCE: plasticstoday.com

PHOTO: Tallinn’s Old Town