Luxury automakers Ferrari, Lamborghini cease production in Russia

March 8 (UPI) -- Luxury automakers Ferrari and Lamborghini on Tuesday added their names to the growing list of motor vehicle companies that have suspended production and business operations inside Russia.

In a statement, Ferrari said, "given the ongoing situation Ferrari has taken the decision to suspend the production of vehicles for the Russian market until further notice."

Lamborghini said in its statement: "In light of the current situation, business with Russia has been put on hold. Lamborghini hopes for a swift end of the hostilities and a return to diplomacy."

Both companies, based in Italy, said they were also donating funds to help the Ukrainian people.

Volkwagen, Toyota, Honda, AB Volvo, Ford, Renault and Daimler Truck had already halted production and business activities following Russia's invasion of Ukraine in late February.