Rheinmetall, BMW Take Part in German Push to Shore Up Critical Minerals, FT Says, Citing Sources

-- Germany's industrial companies are lobbying for a Japanese-style trading house to secure supplies of critical raw materials in an attempt to protect themselves from China's stranglehold on rare earths, the Financial Times reports, citing unnamed sources.

-- Defense company Rheinmetall and carmaker BMW are among those pushing for the idea, alongside German industry associations including car lobby group VDA and defense association BDSV, the FT writes. Machine tools lobby VDMA and digital technology association ZVEI are also taking part in the talks, it adds.

-- A spokesperson for BMW told the FT that supply risks for business required "co-ordinated action". The VDA said it was in "regular exchange with relevant partners from industry and politics" about the supply of critical raw materials. Rheinmetall, the BDSV, the VDMA and ZVEI declined to comment to the FT.

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Write to Cristina Gallardo at [e-mail]

(END) Dow Jones Newswires

03-09-26 0347ET