- Mercedes Benz Group (OTC:MBGYY) has been stockpiling natural gas products to ensure continued production in the wake of Germany’s fuel rationing move.
- The luxury automaker has produced extra parts made at its foundries in Untertuerkheim, which go into gearboxes, axles and transmission components, to build up stockpiles at plants in the U.S. and China, Bloomberg reported.
- The arrangement is to make sure that production goes on in the U.S. and China if a shortage of natural gas in Germany forces them to take operations offshore.
- Also Read: Ford Plunges Following Supply Chain Warning: What’s Going On?
- “You don’t know what’s coming exactly, it depends on temperatures during the winter,” the report quoted Mercedes-Benz production chief Joerg Burzer.
- Russia has halted natural gas supply in response to Europe’s support for Ukraine.
- Germany is also exploring ways to seal deals with Qatar, Saudi Arabia, and the United Arab Emirates for shipments of gas and hydrogen.
- “In an emergency situation, where there’s a shortage of gas, we can substitute a significant amount of our gas consumption with fossil fuel energy supplies — this shift is prepared and ready to go,” added Burzer.
- Price Action: MBGYY shares closed higher by 0.22% at $13.87 on Thursday.
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