February 25, 2022 – The Russian incursion into Ukraine this week has thrown European and global markets into a frenzy, as automakers work to determine how big an impact the war, and any economic sanctions against aggressor Russia, will have on supply lines, production, and workforces who could now be in direct danger.
Europe’s home automakers will be hit the hardest, as supply lines from Ukraine and Russia freeze up while bombs get dropped. Hyundai and Kia’s massive manufacturing presence in Russia now presents a huge headache for the Korean group.
The Korean automotive sector is hugely reliant on Ukrainian-provided rare gases like neon, krypton, xenon, and more, everything from EV battery cells to superconductors are now on an even tighter supply line, and prices will go up.
