China’s NIO is considering buying Volkswagen’s Audi plant in Brussels. Volkswagen’s plant is at risk of being shut down, and NIO wants to take advantage as the market shifts to EVs.
Volkswagen may close its first plant in Germany ever. Its Audi Brussels factory is also at risk. The last time the company closed a facility was back in 1988 in Westmoreland, Pennsylvania.
However, VW is facing an overcapacity crisis amid sluggish EV sales and a slew of new competitively priced electric cars from China.
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