LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Volkswagen to shut EV factory in Brussels

Robert Frost by Robert Frost
October 30, 2024
in Industries
Volkswagen to shut EV factory in Brussels
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


Audi Q8 e-tron production at Brussels plant (Source: Audi AG)

Days after Volkswagen announced it was closing three factories in Germany – a first for the company – the carmaker will now officially close its Audi plant in Brussels where it makes the Audi Q8 E-Tron in a few months.

The company announced that it will close the factory on February 28, 2025.

You might also like

EcoFlow Cyber Week Sale continues up to 80% power station discounts from $75 + exclusive DELTA 3 Ultra $879 low, Lectric, more

Ford’s EV sales plunge 60% in November with the F-150 Lightning still on hold

Aptera (SEV) shows off assembly line for solar electric ‘car’, updates on battery and testing

Back in September, Volkswagen-owned Audi said that it wanted to stop production on the Q8 E-Tron and put the factory up for sale. Meanwhile, VW has been looking for investors or other workarounds, with the company saying that none of the 26 interested parties offered any viable solutions for the future of the plant, as reported by Automotive News Europe.

Management is still looking for a potential buyer to take over the plant, and no layoffs are expected until the beginning of 2025. But either way, the 3,000 people currently employed there are likely to lose their jobs, which has stirred up pushback from unions that argue that the company is too resistant to consider other offers.  

Last month, huge rallies blocked the Belgian capital over the potential closing of the plant, with unions warning of further strikes and protests. Now, the factory has become a symbol for what protestors say is the real problem: It’s not that people don’t want to embrace electric vehicles, it’s that European automakers are focusing too much on large, expensive SUVs. The Audi Q8 E-Tron, an electric SUV, sells for around €80,000.

Just two days ago, Volkswagen – which currently has 10 plants and 300,000 employees in Germany – reported its plan to close three German plants, the first time in the company’s 87-year history that it is closing factories on its home turf. The plan includes cutting tens of thousands of jobs and slashing pay for 10% of its remaining staff.

Rough news for Volkswagen, but it’s not too surprising since the legacy automaker has been facing a steep decline in sales in China, which is its core market, while simultaneously facing challenges from BYD and other Chinese automakers entering the European market.

FTC: We use income earning auto affiliate links. More.



Source link

Share30Tweet19
Previous Post

Harris vs Trump: Who is the crypto industry backing?

Next Post

Do transparent aligners really work? – London Business News | London Wallet

Robert Frost

Robert Frost

Jutawantoto Jutawantoto Jutawantoto Jutawantoto Berita Terbaru Hari

Recommended For You

EcoFlow Cyber Week Sale continues up to 80% power station discounts from  + exclusive DELTA 3 Ultra 9 low, Lectric, more
Industries

EcoFlow Cyber Week Sale continues up to 80% power station discounts from $75 + exclusive DELTA 3 Ultra $879 low, Lectric, more

December 2, 2025
Ford’s EV sales plunge 60% in November with the F-150 Lightning still on hold
Industries

Ford’s EV sales plunge 60% in November with the F-150 Lightning still on hold

December 2, 2025
Aptera (SEV) shows off assembly line for solar electric ‘car’, updates on battery and testing
Industries

Aptera (SEV) shows off assembly line for solar electric ‘car’, updates on battery and testing

December 2, 2025
Kia previews the EV2, its most affordable electric vehicle yet [Images]
Industries

Kia previews the EV2, its most affordable electric vehicle yet [Images]

December 2, 2025
Next Post
Do transparent aligners really work? – London Business News | London Wallet

Do transparent aligners really work? - London Business News | London Wallet

Related News

‘Very few causes policing should be attached to,’ Met Commissioner says

‘Very few causes policing should be attached to,’ Met Commissioner says

August 29, 2023
Wind turbine troubles have sent one stock tumbling. There are fears it could be a much wider issue

Wind turbine troubles have sent one stock tumbling. There are fears it could be a much wider issue

July 3, 2023
Gold price movement reflects anticipation of Fed rate cuts and Powell’s upcoming speech – London Business News | London Wallet

Gold price movement reflects anticipation of Fed rate cuts and Powell’s upcoming speech – London Business News | London Wallet

August 22, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?