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CN Buyers Reportedly Interested in Acquiring Volkswagen's Unwanted Plants in Germany
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Chinese officials and car makers are interested in purchasing German automotive plants, particularly those that Volkswagen plans to dispose of, Reuters reported, citing sources. The sources indicated that acquiring German automotive plants could allow China to expand its influence in the German automotive industry as Germany is home to some historic and high-end car brands. Even though Mercedes-Benz has two major Chinese shareholders and Chinese companies have already invested in various German industries like telecom and robotics, they have yet to establish a car manufacturing base in Germany. Producing cars in Germany and selling them in Europe could allow Chinese new energy vehicle manufacturers to avoid the additional EU tariffs imposed on imported Chinese electric vehicles, although it also threatens the competitiveness of European car manufacturers. AAStocks Financial News |
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