Volkswagen, Porsche latest automakers to donate 1 mln Euros for Ukraine relief
Volkswagen and its luxury high-performance car subsidiary Porsche are the latest automakers to join the list of companies that have donated money to support Ukraine. Both the German automakers have donated one million euros for Ukraine relief. Other automakers such as Mercedes-Benz, Ford, Stellantis too have donated money to Ukraine relief.
Also Read : How war in Ukraine is taking toll on Porsche, BMW production in Europe
Porsche has said that its donated amount will be split between two organisations. While 7.50 million euros will go to the UN Refugee Aid, the remaining 2.50 million euros will go to the Ferry Porsche Foundation to help the children and young adults.
Speaking about the move, Porche CEO Oliver Blume said that the company is making a contribution and supporting organisations that help the population on the ground, as the people in Ukraine are in need of urgent aid through no fault of their own.
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Mercedes-Benz donated one million euros to the Red Cross for specific assistance to Ukraine last week. Stellantis too announced a one million euros donation to an unnamed non-governmental organisation in Ukraine on March 2. Ford on the other hand donated $100,000 to the Global Giving Ukraine Relief Fund.
Donations aside, several automakers have already suspended operations in the region. Ford has suspended its entire operations in Russia, as the country invaded Ukraine. Toyota said that its manufacturing plant in St. Petersberg that makes Camrys and RAV4s would close on March 4. Volvo and Jaguar Land Rover too have suspended operations in the area. Honda, General Motors, and Mazda have halted exports to Russia. Hyundai closed its manufacturing plant in St. Petersburg but plans to reopen it on March 9.
Besides the regular operations, the conflict between Russia and Ukraine is impacting the supply chain of the automakers as well. Reuters claims that 22 automotive companies have investments in 38 plants in Ukraine, employing more than 60,000 Ukrainians. Volkswagen, BMW, Audi, Porsche have already started facing disruptions in their wire harness supply chain. Other automakers too arr expected to deal with severe semiconductor shortages as Ukraine is one of the key suppliers of microchips.
