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

As Russia’s invasion of Ukraine stretches on, more automakers are suspending operations in Russia, offering support to Ukraine, or both. Porsche joins several automotive companies in donating funds for Ukrainian relief, pledging one million euros to the cause. That translates to approximately $1.1 million in US currency.

The funds will be split among two organizations. 750,000 euros will go to the UN Refugee Aid, a German association partnered with the UN Refugee Agency. It’s the same group for which Porsche’s parent company Volkswagen Group also donated one million euros. The remaining 250,000 euros will go to the Ferry Porsche Foundation, focusing on children and young adults.

“We are deeply saddened by the events in Ukraine,” said Porsche CEO Oliver Blume. “Many people are in need of urgent aid through no fault of their own. We are therefore making a contribution and supporting organizations that help the population on the ground.”

Late last week, Mercedes-Benz donated one million euros to the Red Cross for specific 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 a suspension of all operations in Russia while donating $100,000 to the Global Giving Ukraine Relief Fund.

Donations aside, numerous automakers have halted operations in the region. Toyota reported its manufacturing plant in St. Petersberg would close on March 4; the facility builds Camrys and RAV4s primarily for the Russian market. Volvo and Jaguar Land Rover have suspended operations in the area. Honda, General Motors, and Mazda have halted exports to Russia. According to The Wall Street Journal, Hyundai closed its manufacturing plant in St. Petersburg but plans to reopen on March 9.

The war is also causing additional supply chain issues for companies already dealing with semiconductor shortages. Wire harnesses from suppliers in the region have affected BMW, Audi, Porsche, and Volkswagen. According to Reuters, 22 automotive companies have investments in 38 plants in Ukraine, employing more than 60,000 Ukrainians.

Source: Porsche

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