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Automotive Industry
The Audi Q8 E-tron is the sole model built at the plant, which built about 50,000 vehicles a year and employs about 3,000 people.
Volkswagen Group warned it may close the Brussels assembly plant of its Audi brand due to a sharp drop in demand for high-end electric cars that has hit Europe's top automaker, forcing it to cut its margin target for the current year.
VW has not shut down a plant since it closed the Westmoreland site in Pennsylvania, in the US, in 1988.
Automakers have been hit hard by lower-than-expected EV demand after investing heavily in capacity and technology development, with Audi warning earlier this year its sales would dip in 2024 as it worked on introducing new models while also cutting costs.
VW said in a statement on 9 July 2024 that the costs of finding an alternative use for the Brussels plant or closing it, as well as other unplanned expenses, would have an impact totaling up to €2.6 bn ($2.8 bn) in the 2024 financial year.