German leader not opposed to Chinese taking over car plants

BERLIN: Chancellor Friedrich Merz signalled on Wednesday (Jul 15) he was not opposed to Chinese carmakers taking over struggling German auto plants but cautioned it could not be a long-term solution for the industry's problems.Germany's flagship auto sector is struggling with issues including weak demand in Europe, US tariffs and fierce competition from China.Employment has shrunk in the automotive sector and Volkswagen CEO Oliver Blume told staff on Monday that up to another 50,000 job cuts were on the table on top of the same amount already agreed.With many of the country's car plants operating below capacity, some have suggested fast-growing Chinese manufacturers could use some of their production lines or take them over entirely. Chinese electric carmakers such as BYD are looking for p