Volkswagen's Audi in talks with potential investor for Brussels site

Published 10/29/2024, 09:58 AM
Updated 10/29/2024, 10:00 AM
© Reuters. FILE PHOTO: A woman walks past the entrance of the new Audi plant in Brussels May 30, 2007.  REUTERS/Yves Herman/File Photo
VOWG_p
-

BERLIN (Reuters) - Volkswagen (ETR:VOWG_p)'s luxury division Audi is in talks with a potential investor for its struggling Brussels plant, a company spokesperson said on Tuesday.

A working group on alternative uses for the plant is also ongoing, said the spokesperson, who added that it has not yet come to a conclusion.

According to company sources, the potential investor is a commercial vehicle manufacturer.

© Reuters. FILE PHOTO: A woman walks past the entrance of the new Audi plant in Brussels May 30, 2007.  REUTERS/Yves Herman/File Photo

Volkswagen, which could close three plants in Germany as part of a cost-cutting drive, said in July it was considering closing its Brussels site, which employs about 3,000 people, due to low demand for its higher-end electric cars.

The factory currently makes Audi's electric luxury SUV Q8 e-tron, but production of the vehicle will cease next February.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.