Premium automaker Mercedes-Benz, opens new tab is halting all investments in its German plants and exploring site ‌closures to tackle the high cost of car manufacturing in the country, according to a memo to workers seen by Reuters on Thursday.

 

The move marks the latest escalation in Germany's auto sector crisis, which has already triggered the biggest ever restructuring at Volkswagen and is threatening tens of thousands of jobs in the country's most important industry.