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HomeNewsPorsche Is Latest Automaker To Donate €1 Million For Ukraine Relief

Porsche Is Latest Automaker To Donate €1 Million For Ukraine Relief

Parent company Volkswagen sent the same amount.

More automakers are suspending operations in Russia, providing assistance to Ukraine, or both as Russia’s invasion of Ukraine continues. Porsche has pledged one million euros to aid Ukrainian relief efforts, joining a number of other automakers. In US money, this equates to around $1.1 million.

The money will be distributed between two charities. The UN Refugee Aid, a German organisation working with the UN Refugee Agency, will receive 750,000 euros. Porsche’s parent firm, Volkswagen Group, also made a one-million-euro donation to the same organisation. The Ferry Porsche Foundation, which focuses on children and young adults, will get the remaining 250,000 euros.

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“The events in Ukraine have greatly grieved us,” stated Porsche CEO Oliver Blume. “Many folks are in desperate need of assistance for no fault of their own. As a result, we are contributing and supporting groups that assist the local community.”

Mercedes-Benz contributed a million euros to the Red Cross for particular aid to Ukraine late last week. Stellantis said on March 2 that it would donate one million euros to an unknown non-governmental group in the region. Ford also announced the suspension of all business in Russia, as well as a $100,000 donation to the Global Giving Ukraine Relief Fund.

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Aside from donations, a number of automakers have ceased operations in the region. Toyota said that its St. Petersberg plant, which predominantly produces Camrys and RAV4s for the Russian market, would close on March 4th. The operations of Volvo and Jaguar Land Rover in the area have been halted. Exports to Russia have been halted by Honda, General Motors, and Mazda. Hyundai shuttered its manufacturing factory in St. Petersburg, according to The Wall Street Journal, but aims to restart on March 9.

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For industries already grappling with chip shortages, the battle is producing further supply chain challenges. BMW, Audi, Porsche, and Volkswagen have all been affected by wire harnesses from regional vendors. According to Reuters, 22 automobile corporations have invested in 38 Ukrainian facilities, employing over 60,000 people.

Team Autobizzhttp://autobizz.in
Anuj Farkade Co-Founder Autobizz | Automotive Engineer | Fresh out of college, immensely passionate about automobiles along with a flair for writing. Looking forward to being a part of this industry and joining it's glorious journey

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