Germany’s industrial giants are pushing for a Japanese-style trading house to secure supplies of critical raw materials in a bid to bypass China’s stranglehold on rare earths.
Carmaker BMW is among those working with Germany’s automotive lobby and defence industry representatives on the concept, which could be supported financially by the German government, according to people familiar with the plans. Arms maker Rheinmetall is also involved, one of the people said.
The move is part of a long-term effort by Germany to emulate Japan in making joint purchases of critical minerals on behalf of industry to have “more power in the market”, said one of those involved in the plans.
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