Nio is one of the candidates considering taking over the Audi Brussels car plant in the city of Vorst in Brussels, which is at risk of being shut down, according to a Belgian media report.
Chinese electric vehicle (EV) maker Nio (NYSE: NIO) is one of the candidates considering a takeover of the Audi Brussels car plant in the Brussels city of Vorst, Belgian media outlet De Tijd said in a report overnight, citing reliable sources.
A delegation from Nio has visited the plant in recent weeks and the company is currently working on an offer that must be submitted to Volkswagen Group by next Monday, the report said.
De Tijd -- literally The Times -- is a Belgian newspaper dating back to 1968 that specializes in business and economic reporting.
Audi parent Volkswagen has decided not to build any more cars in Vorst when the last Q8 e-tron electric SUV (sport utility vehicle) rolls off the production line next year, so finding a buyer for the plant is the only remaining alternative to the increasingly inevitable closure, the story noted.
If it closes, all 2,910 Audi Brussels employees will lose their jobs, according to the report.
Nio is one of the premium Chinese brands with ambitions in Europe, where the company began selling cars two years ago, but the expansion hasn't been as successful as planned, the report said.
A significant increase in European import tariffs on Chinese EVs means that more and more Chinese brands are starting to look for production options in Europe, the report noted.
In Europe, some of Nio's models are currently available in Norway, Germany, the Netherlands, Sweden, and Denmark, and the company has yet to begin selling vehicles in Belgium.
The EU has announced proposed tariff increases on EVs from China, and Nio currently faces a 20.8 percent rate, on top of the original 10 percent levy.
The EU planned to vote on September 25 on whether to impose definitive tariffs on EVs imported from China, Bloomberg said in a September 14 report, citing people familiar with the matter.
The outcome of the vote will pave the way for tariffs starting in November unless a qualified majority -- the 15 member states, which make up 65 percent of the EU's population -- vote against it, the Bloomberg report noted.
Nio said in June that it said it strongly opposed the additional European tariffs, but emphasized that its commitment to Europe remained unchanged.
The company currently has two vehicle assembly plants in China, both located in Hefei, Anhui province.
Audi announced plans to reorganize its Brussels plant in July and said it was considering an early end to production of its Audi Q8 e-tron. Earlier this month, disgruntled workers began protesting.
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