The German vehicle concern Volkswagen's share is rising by over 1 percent after the announcement that they are considering closing the subsidiary Audi's electric car factory near Brussels to save costs.
Unexpectedly weak demand is behind the announcement. Talks about a factory closure have been initiated with Belgian authorities, but according to VW, there are several alternatives to the drastic decision.
According to a statement from VW, the group management expects the margins to be lower than expected this year and that this year's result will be burdened by extra costs of a total of 2.6 billion euros.
At the threatened electric car factory, around 3,000 people are currently working with the production of the electric car Q8 e-tron.
VW plans to present a report for the first half of the year on August 1.
Despite Wednesday's upward movement, the VW share has fallen by 8 percent on the Frankfurt stock exchange since the turn of the year.
