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German Carmakers Shouldn’t Fear Their Asian Rivals, Scholz Says

German Carmakers Shouldn’t Fear Their Asian Rivals, Scholz Says

Chancellor Olaf Scholz urged Germany’s carmakers to embrace competition from Asian rivals and not be intimidated by the rise of China’s electric-vehicle manufacturers.

“Competition should spur us on, but not scare us,” Scholz said Tuesday in a speech at the IAA auto show in Munich, insisting that “there is no question about the international competitiveness of Germany as a car nation.”