Germany blocks sale of Volkswagen subsidiary to China for security reasons
Kyiv • UNN
Germany has blocked the sale of Volkswagen's subsidiary MAN Energy Solutions to a Chinese company on national security grounds, deepening tensions with its trading partner.
Germany has blocked the sale of Volkswagen's MAN Energy Solutions to China for national security reasons. This is reported by CNN, UNN reports.
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Germany has blocked the sale of its Volkswagen subsidiary, MAN Energy Solutions, to China on national security grounds, further deepening tensions with the country that is its largest trading partner. In June 2023, MAN Energy Solutions announced plans to sell its gas turbine business to CSIC Longjiang GH Gas Turbine Co.
The decision to block the deal came a few weeks after the European Union raised tariffs on electric vehicles from China, which triggered a trade dispute, and after the start of a Chinese investigation into EU pork prices
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According to the German government, trade between the two countries amounted to 255 billion euros last year.
