German Chancellor Urges Auto Industry Growth Amid Economic Slump

German Chancellor Friedrich Merz emphasized auto industry's role in Germany's economy at IAA Munich.
Merz warned overregulation poses a risk to Germany's economy.
He pledged to boost investment and improve business environment for growth.
Germany's economy contracted in Q2 due to industrial slowdown.
Automakers aim to keep selling combustion cars beyond EU's 2035 EV deadline.
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