Opel stops planned China expansion amid geopolitical tensions – Handelsblatt

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Reuters UK

BERLIN (Reuters) -German carmaker Opel has stopped a planned expansion into China amid geopolitical tensions between Beijing on one side and the United States and European Union on the other, the Handelsblatt daily reported on Friday, citing sources. A company spokesperson confirmed the decision to Handelsblatt, citing current challenges in the auto sector. In addition to geopolitical tensions, China’s strict zero-Covid policies are making entry into the already competitive market even more difficult, Handelsblatt reported. The carmaker was also lacking in attractive models to set it apart fro…

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