German chancellor hosts auto summit as carmakers bleed jobs

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German Chancellor Friedrich Merz hosted an auto summit in Berlin as the country's automotive industry faces stagnation and mass layoffs amid a transition to electric vehicles (EVs). The meeting brought together political leaders, automakers, and unions at a critical time for the sector, which is lagging behind Chinese competitors in EV adoption and software innovation. Merz pledged support for the auto industry, aiming to scrap the EU's planned ban on new internal combustion engine vehicle sales starting 2035, labeling it as unrealistic. Critics argue that this move could undermine consumer confidence in the shift towards electric transport and that China poses a more significant threat to Germany’s automotive sector than regulatory deadlines.
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