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Audi To Close Brussels Plant In February After Failing To Secure Investor

Audi has halted its search for an investor for its Brussels plant, with plans to shut down the facility in February, according to DPA reports. The closure, tied to cost-cutting measures by parent company Volkswagen Group, marks a significant shift in Audi’s European manufacturing landscape.

Key Details

The Brussels plant, which assembles the electric Q8 e-tron, has faced logistical challenges, high operational costs, and declining sales of its sole production model. Additionally, its location near residential areas and major transport routes limit expansion opportunities. Audi noted that the only interested investor withdrew, ending the search for alternatives for the plant.

Negotiations between Audi, works councils, and unions over a social plan for the plant’s 3,000 workers have been ongoing for four months. Layoffs are planned, but no terminations will occur until the year’s end.

Industry-Wide Impact

The decision underscores the challenges facing Europe’s automotive industry, especially amid decreasing sales in key markets such as Europe and China. The electric vehicle (EV) sector, although a focal point for investment, has struggled due to high production costs and slower-than-expected sales growth. 

Volkswagen Group, which owns Audi, announced massive job cuts in Germany in September and warned of potential factory closures. To curb costs, Volkswagen also proposed a 10% wage cut in late October, which could help avoid additional shutdowns. 

Broader Layoffs Across the Industry

Volkswagen’s challenges have reverberated across the industry, with major automotive suppliers such as Bosch, ZF, and Continental also announcing layoffs. The closures and restructuring efforts reflect the high stakes in the shift to EVs and ongoing pressures on traditional automakers in a volatile market.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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