The Flex tools sold here in Europe are red and oberall well regarded. The term flex is synonymous with an angle grinder, same as a thermos for a vacuum bottle or a sawzall for the reciprocating saw (or probably less known, but Wap for a water pressure washers, the 90's one I have is made in Switzerland but I think it was a Danish company - today it's known as Nilfisk...). But I have heard that since a few years ago most European Flex stuff is also made in China.
I heard the grey Flex tools for the US market are of an even more inferior quality. Since it is 110V instead of 220V, there may be more differences than just the color...
I think Suhner, Metabo and Bosch still sell some German made angle grinders (Suhner maybe made in Switzerland even).
Suhner is usually German or Swiss depending on what type of tool (ie. Corded, cordless, pneumatic, etc.).
Some of the large Suhner flex shaft systems may be Italian.
Metabo might be German made, or nowadays, Chinese.
Metabo has long had some cordless items in their lineup that were made in China, and the Metabo HPT line is what the Hitachi Power Tool line is now called in the USA, and most of those tools had been made in China for at least three decades, and still are. (Larger, specialized Hitachi carpentry tools like miter saws, and larger power planers, and groovers might have still been made in Japan)
Bosch produces tools all over the place.
Lowes in the USA sometimes has German made Bosch tools such as angle grinders.
Bosch was still producing some tools in Switzerland, as well as a variety of blades their, and some other accessories.
Bosch tools that used yo be produced in the USA routinely had production moved to Mexico, like at least one router model.
Various cordless tools, and some measuring tools like the digital level and angle finder were made in Malaysia going back decades.
At one point Bosch was having angle grinders made in Russia, although that ended a while ago, at least for the US market, after sanctions during the first Crimea squabble.
Bosch also of course makes items in China.
Chervon, the parent company now of Flex, bought the Skil and Skilsaw brands from Bosch, and it seems likely that Chervon was making the Skil wormdrive saws, and maybe other tools for Bosch before that.
Since some Bosch tools are still nearly identical to Chervon Skilsaw models, and are made in China, it seems likely Chervon may be making tools for Bosch still.
Interestingly concerning Flex and “Sawzalls”;
Flex makes reciprocating saws, and these saws used to be rebranded by other German manufacturers to fill out their tool lineups, I think including Fein, possibly Metabo, and Ridgid.
These were not the same models that the US Porter Cable manufacturer added to the Flex line after purchasing the brand years ago. (Although some of the Porter Cable tools still existed in the Flex lineup after Black & Decker bought Porter Cable and Flex, and then sold Flex to Chervon.)