Chinese EV maker Nio Inc. (NYSE:NIO) is reportedly eyeing taking over Volkswagen brand Audi‘s car plant in Vorst, a city in Brussels. What Happened: A Nio delegation visited the Vorst plant in recent weeks and is working on a bid to submit to Audi parent Volkswagen by next Monday,

Undeterred by the threat of punitive tariffs imposed by the European Union, NIO (NYSE:NIO) has begun deliveries of its EL8 to European customers after launching at the beginning of the summer. The SUV was initially built on NIO’s (NIO) NT 1.

Chinese EV maker Nio has emerged as a potential buyer for Audi 's plant in Brussels, which is facing possible closure. Nio is preparing a purchase offer for the factory, Belgian newspaper De Tijd reported.

NIO has reportedly started delivering the new ES8, built on the NT 2.0 platform, in Europe, following the SUV's launch three months earlier.

To make the European market unattractive for Chinese EV exports, tariffs have to be as high as 50%, according to research group Rhodium.

Wang also spoke to businesses in the EV sector on Wednesday in Brussels after which he said China "will certainly persevere until the final moments of the consultations," as quoted in a statement by the Chinese Chamber of Commerce to the EU.