Written by Cláudio Afonso | LinkedIn | X
Belgian media reported late Wednesday that electric vehicle maker Nio is in talks with Volkswagen Group to acquire Audi’s factory in Belgium.
The report, which cited “reliable sources”, claimed that a delegation from Nio visited the plant in the last weeks adding that a bid should be submitted by next Monday, September 23.
Contacted by Chinese media outlet Yicai, a spokesperson of the Shanghai-based company said the company “currently has no comment.”
With demand for the Q8 SUV well below expectations, Volkswagen Group has decided to stop production and close the factory ending the contract of 3,000 Audi workers.
Nio expanded to Europe in 2021 with Norway, the country with the highest EV adoption by far as of today, with Germany, the Netherlands, Sweden and Denmark following a year later.
Although Nio management has repeatedly stated over the past few years that local production in Europe would only make sense once sales volumes significantly increase, the anticipated confirmation of additional duties by the European Commission has changed the outlook.
This has accelerated plans by Chinese EV makers to either purchase or build factories in Europe.
Last month, Nio CEO William Li said that the current European plan is now to “focus on the existing” markets.
“So we will focus on the existing five European markets that we have already started. We also know that to establish Nio, such a premium brand in the European market, will also take a longer time and we are very patient with that,” Li stated on the earnings conference call.
In addition to Belgium, Chinese manufacturers are considering Poland, Spain, Italy, and Hungary as potential locations to establish local production and export hubs for the European market.
Written by Cláudio Afonso | LinkedIn | X
