July 10, 2024
Volkswagen considers closing Brussels plant due to falling demand for Audi’s EVs
BERLIN: Volkswagen warned on Tuesday it may close its luxury brand Audi’s Brussels site as a sharp drop in demand for premium electric cars hit Europe’s top carmaker, forcing it to cut its profit margin target for this year. Volkswagen ( VOWG_p.DE ) has not closed a plant since it closed its Westmoreland, Alabama plant in 1988, and the last head of the VW brand to threaten closures in Europe resigned months after that, according to an employee source. Automakers have been hit hard by lower-than-expected EV demand after heavy investment in capacity and technology development, with Audi warning earlier


