The auto giant is struggling with high production costs, falling sales in China, and stalled talks over labor cuts
German auto giant Mercedes-Benz has frozen investment in its domestic factories and is considering plant closures, according to an internal memo cited by multiple media outlets. The decision comes as high production costs and fierce competition from China squeeze Germany’s struggling car industry.
In the memo published on the company’s intranet on Thursday, production chief Michael Schiebe reportedly said current cost structures make further investments in Germany impossible.
Manufacturing labor in the country can cost up to five…
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