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China Interested in Buying Volkswagen and Other German Car Factories
China Interested in Buying Volkswagen and Other German Car Factories
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According to a Reuters report, BRICS member China is showing interest in acquiring struggling German car factories, including Volkswagen. This move is seen as an effort by China to establish a foothold in Germany's prestigious auto industry. Volkswagen, among other German automakers, is currently reducing production due to fears of closure. A source close to the Chinese government indicated that purchasing these factories would allow China to build influence in Germany's prized automotive sector, which is home to some of the oldest and most prestigious car brands.
