There is a similar recent article in German from the "Berliner Zeitung"

https://www.berliner-zeitung.de/wirtschaft-verantwortung/dei...

The linked article is mentioning additional factors:

  - tax incentives and favorable legislation offered in the US and China.
  - drawn out planning and approval procedures in Germany
  - no more cheap natural gas from Russia (i guess that was a big hit for the chemical industry)
  - cheaper energy (also cheaper green energy) in the US and China.

However just last year Tesla opened a big plant in Brandenburg, near Berlin, go figure... https://en.wikipedia.org/wiki/Gigafactory_Berlin-Brandenburg

... and Intel is building one big fab in Magdeburg - that one is costing 17 billion euro: https://www.intel.com/content/www/us/en/corporate-responsibi...

So maybe not all of industry is leaving.