Latest News

Lithium Prices Skyrocket As China Cements Leadership Position


Reuters Videos

Japan’s automakers stop Russia output, exports

STORY: Japan’s big carmakers are joining global rivals in ending output in Russia. After saying recently that production continued as normal, Toyota has now bowed to the inevitable. The world’s biggest carmaker says it’s stopped production in the country. It normally makes about 80,000 cars a year at its St Petersburg plant, employing 2,000 workers. Toyota also said it would halt all exports to Russia. That follows similar moves by local rivals Honda and Mazda. Big carmakers elsewhere had already acted. Ford, BMW and Mercedes-Benz were among those to stop making cars in Russia, or halting exports to it.Sanctions on the country have scrambled logistics and cut supply chains, making life difficult for manufacturers. The exclusion of Russian banks from international payment systems also complicates making payments. Toyota said it was watching events in Ukraine with great concern, and hoped for a swift return to peace.

Oil surges above $100 a barrel, stocks slide on Ukraine conflict

Previous article

Plug Power’s Outlook Remains Strong, Boosting the Stock Despite Mixed Earnings

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News