Audi in talks with potential investor

Volkswagen’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.

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.

About Audi

Audi is a German luxury automobile manufacturer founded in 1909 by August Horch. Headquartered in Ingolstadt, Bavaria, Audi is a wholly-owned subsidiary of the Volkswagen Group. The company’s logo, four interconnected rings, symbolizes the merger of four companies – DKW, Horch, Wanderer, and Audi – to form Auto Union in 1932. Volkswagen acquired a 50% stake in Audi in 1964 and fully acquired it in 1966.

Audi’s lineup includes the A series (A3-A8), Q series (Q2-Q8), e-tron electric vehicles, R8 sports car, and TT sports car. The company is known for its innovative technologies, such as Quattro all-wheel-drive, turbocharged engines, and advanced driver assistance systems (Audi AI). Audi has received numerous awards, including “World Car of the Year” and “European Car of the Year.” The company operates in over 100 markets worldwide, with manufacturing facilities in Germany, China, Mexico, Hungary, and Belgium.

With over 1.7 million vehicles sold in 2022, Audi generated €53.1 billion in revenue. The company is committed to sustainability, electrifying its fleet with the e-tron series. Audi’s slogan, “Vorsprung Durch Technik” (Advancement Through Technology), reflects its focus on innovation and performance. As a leading luxury car brand, Audi continues to push boundaries in design, technology, and driving experience, solidifying its position in the global automotive market.