Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Airbus Finds A321neo Fuselage Quality Issue 
TSMC Accelerates 2nm Expansion as AI Chip Demand Surges 
RBA Set for September Rate Hike as Inflation Stays High 
Suzuki Targets Faster Car Development to Keep Pace With Chinese Rivals 
Novo Nordisk Strikes €1.17 Billion Nanexa Drug Delivery Deal 
Gold Slides Below $4,300 as Oil Surge Fuels Fed Rate Hike Bets 
OpenAI, Anthropic CEOs Summoned to Australia AI Inquiry 
China Industrial Profit Growth Slows as Weak Demand Offsets AI Gains 
China, US Extend Trade Truce Through January 10 After Trump-Xi Summit 
Morgan Stanley Raises TD Synnex Price Target to $359 on Strong AI Demand 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Oil Prices Rise as Iran Holds Firm on Strait of Hormuz Deal 
Oil Surge Pressures Global Stocks as U.S.-Iran Truce Hopes Fade 
Add as a preferred source on Google
Porsche is also suspending the production of its electric cars due to the ongoing war in Ukraine. Although the luxury sports car maker's plant is located in Stuttgart-Zuffenhausen, Germany, it decided to halt its operation since its suppliers are in the said war-torn country.
In fact, according to Reuters, other automakers in Europe are also struggling with production due to the difficulties in obtaining key wire harnesses since the suppliers in western Ukraine were closed down by Russia's invasion. The situation also forced these companies to stop production.
For its move to suspend its electric vehicle production, it means that Porsche will not be able to build 200 Taycan car models per day. The company said that its plant in Leipzig would partially resume operations on Monday. Works in this factory were previously halted, but the suspension will only be until this week as the situation on supply has already improved.
For its Stuttgart-Zuffenhausen plant, Porsche is planning to lift the suspension of production by the end of next week. Apparently, the luxury car division of Volkswagen is assuming that components will all be available by then.
With many companies halting or closing down their businesses, it is easy to see that Russia's invasion of Ukraine has a strong economic impact worldwide. No business is immune to its effects, so the war must stop now, or further damage is imminent.
Meanwhile, Porsche's decision to halt its electric car production was first reported after a leaked internal memo was released, and based on its content, the EV models of the brand will be affected by production suspension this month.
The memo also stated that Porche had already stopped the production of its Macan and Panamera on March 2, while the Taycan was halted on March 3. The car brand's Cayenne was next to be suspended on March 7, and this will be followed by the 718 Cayman and Boxter on March 14. Lastly, the Porche's 911 GT3 and GT3 Touring's production will stop on March 17 and the rest of the 911 models on March 31.
Meanwhile, Porsche confirmed to Motor1.com that the works at its Leipzig plant were indeed halted on March 2, so there was no production for its Macan and Panamera.
