A senior member of Russia’s ruling party has proposed nationalizing the factories of companies that shut down operations in response to its invasion of Ukraine.
Tag: Industry
Shell Says It’s Sorry And Will Stop Buying Russian Crude Oil After Facing Criticism
Shell plc today announced its intention to pull out of its involvements in all Russian hydrocarbons, including crude oil, petroleum products, gas, and liquefied natural
Porsche Reportedly Pausing Production Of All Models Due To War In Ukraine
Porsche is reportedly pausing production as the war in Ukraine continues. An alleged internal memo from within the German car manufacturer posted to Twitter states
Shell Defends ‘Difficult’ Decision To Buy Russian Oil At Record Discount Price
Shell is defending its decision to buy 100,000 metric tons of crude oil from Russia at a record discount. The move breaks a self imposed
Ukraine Conflict Could Hurt U.S. Automobile Production Plants
Russia’s invasion of Ukraine has already forced several automakers to close plants in Russia, and has even caused parts supply problems affecting BMW factories in
Russian Invasion Of Ukraine Could Lead To Second Wave Of Microchip Shortage
The crisis in Ukraine could have more knock-on effects down the line for the automotive sector as supplies of neon are impacted by Russia’s invasion.
Honda Looking To Raise $2.75 Billion Through Green Bonds To Fund EV Future
Honda is looking to raise $2.75 billion by issuing U.S. dollar-denominated green bonds that will benefit its electrification push. The move will see the automaker
BMW Will Build A $200 Million Press Shop At Its Spartanburg, South Carolina Plant
BMW announced that it will be adding a new 219,000-square-foot (20,345-square-meter) press shop at its plant in Spartanburg, South Carolina. The shop will require a
VW Will Focus On Software First To Shorten Vehicle Development Times By A Quarter
Volkswagen says that it is realigning its Technical Development division at its home base in Wolfsburg, Germany. The department will focus increasingly on vehicles’ high-tech
Korean Cars And Other Products May Not Be Subject To U.S. Export Ban Against Russia
South Korean government officials signaled Thursday that consumer goods such as automobiles, smartphones, and washing machines, are exempt from the U.S. export ban against Russia.