Hyperdrive
VW Weighs First-Ever Car Plant Closing in Europe to Cut Costs
- Carmaker sees extra burden of €2.6 billion weighing on result
- Poor demand for Audi Q8 e-tron EV triggered restructuring
Volkswagen AG will potentially shutter an Audi electric-vehicle factory in Belgium to save costs, in what would be a watershed moment for Europe’s biggest carmaker.
The manufacturer has never closed a car plant in the region, but the high-expense Brussels site could become the first due to poor demand for an electric SUV made there. Volkswagen cited additional expenses including from the restructuring for lowering its outlook for the year.