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As Russia’s invasion of Ukraine continues, more automakers are suspending operations in Russia, offering support to Ukraine, or both. Porsche joined several auto companies in donating funds to aid Ukraine, pledging one million euros for the cause. That’s about $1.1 million in US currency.
The funds will be shared between the two organizations. 750,000 euros will be donated to UN Refugee Aid, a German association in partnership with the UN Refugee Agency. It is the same group to which Porsche’s parent company, the Volkswagen Group, also donated one million euros. The remaining 250,000 euros will be donated to the Ferry Porsche Foundation, with a focus on children and young adults.
“We are deeply saddened by the events in Ukraine,” said Porsche CEO Oliver Blume. “Many people need urgent help through no fault of their own. Therefore, we provide contributions and support organizations that help residents on the ground.”
Last weekend, Mercedes-Benz donated one million euros to the Red Cross for special assistance to Ukraine. On March 2, Stellantis announced a one million euro donation to an unnamed non-governmental organization in the region. At the same time, Ford announced the suspension of all operations in Russia while donating $100,000 to the Global Giving Ukraine Relief Fund.
In addition to donations, many automakers have suspended operations in the region. Toyota reports its manufacturing plant in St. Petersberg will close on March 4; the facility built the Camry and RAV4 primarily for the Russian market. Volvo and Jaguar Land Rover have suspended operations in the area. Honda, General Motors and Mazda have stopped exports to Russia. Based on Wall Street JournalHyundai closed its factory in St. Petersburg but plans to reopen on March 9.
The war has also caused additional supply chain problems for companies already dealing with semiconductor shortages. Wire harnesses from suppliers in the region have affected BMW, Audi, Porsche and Volkswagen. Based on Reuters22 automotive companies have investments in 38 factories in Ukraine, employing more than 60,000 Ukrainians.
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