equitieswatch
Tuesday, January 31, 2023
About us
Advertise
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities
No Result
View All Result
Equitieswatch.com
No Result
View All Result

Porsche Suspends Production of Its Popular Electric Sports Car

by equitieswatch
March 10, 2022
in Stock Market

Porsche is suspending production of its electric Taycan model at the car maker’s Stuttgart-Zuffenhausen plant due to a lack of components caused by Russia’s invasion of Ukraine.

The company said Wednesday in an email statement to TheStreet that production will be halted until the end of next week. Roughly 200 Taycan cars cannot be built per day.

European carmakers are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by Russia’s invasion, forcing them to curtail production, Reuters reported.

Production in the Porsche plant in Leipzig, which has been suspended until the end of this week, will start up again in reduced operation in the coming week due to an improved supply situation, the company said.

The production of the 911 and 718 model series in the main plant is currently not affected, Porsche said and the production of the Cayenne in Bratislava is being maintained this week as well.

Shutterstock/TS

Operate on a Short-Term Basis

“In the coming days and weeks we will operate on a short-term basis and continuously reassess the situation,” the company said.

Porsche is currently 100%-owned by Volkswagen Group, which in turn is controlled by a financial holding company called Porsche SE. 

Volkswagen  (VLKAF)   recently said that it was studying the possibility of giving independence to Porsche, one of its luxury brands along with Bentley, Bugatti and Lamborghini.

YOU MAY ALSO LIKE

Mexico’s new airport gets boost from Panama’s Copa Airlines By Reuters

Honda and Sony Team Up to Tackle Tesla

Volkswagen, which is looking for funds to finance its electric transition, remains cautious about the outcome of the process.

The company is determined to beat Tesla  (TSLA) – Get Tesla Inc Report in the electric vehicle market.

The Porsche Taycan comes in five versions, with a base price of $82,700.

Volkswagen said this week that it would spend $2.2 billion to build a new manufacturing facility for its Trinity electric vehicle that will be built near its main plant in Wolfsburg.



Source link

ShareTweetPin

Search

No Result
View All Result

Recent News

Oil slips further on demand, financial market worries By Reuters

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

October 25, 2022
Gold Up, Set for Second Weekly Gain as Dollar Falls from 20-Year High By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

October 25, 2022
Explainer-What would be the impact of Russian oil sanctions in Europe? By Reuters

Oil prices edge higher as U.S. dollar eases By Reuters

October 25, 2022
Equitieswatch.com

Equitieswatch.com is your Stock Market, Finance, Forex, Cryptocurrency, Business, NFT News Website. We provide you with the latest breaking news and videos straight from the Business industry.

  • Home
  • About us
  • Contact
  • Privacy Policy

© 2022 www.equitieswatch.com

No Result
View All Result
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities

© 2022 www.equitieswatch.com