• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Porsches and Lamborghinis lost at sea may cost Volkswagen $155 million

by Srestha Roy
February 22, 2022
in Business, News
Reading Time: 2 mins read
0
Porsches and Lamborghinis lost at sea may cost Volkswagen $155 million
TwitterWhatsappLinkedin

The cargo ship that caught fire last week carrying about 4,000 Volkswagen AG vehicles could cost the automaker at least $155 million, according to one consultant’s estimate.

You might also like

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

Of the roughly $438 million total value of goods aboard the Felicity Ace, which went up in flames off the coast of Portugal’s Azores Islands, Russell Group said Monday it estimates there are $401 million worth of cars. VW group had Volkswagen, Porsche, Audi, Bentley and Lamborghini models on the vessel.

On Monday, a VW spokeswoman declined to comment. The operator of the Felicity Ace, Mitsui OSK Lines Ltd, stated on its website that two big tugs equipped with firefighting equipment were due to arrive Monday AM local time to begin spraying water alongside an initial salvage team that was already on board to cool down the ship. According to the shipping company, no oil leaking has been detected and the vessel is still steady.

According to a spokeswoman, Russell Group is estimating the overall worth of automobiles on board, therefore its loss estimations assume all vehicles are lost. Other automakers, according to the consultant, may have lost $246 million in automobiles.

Felicity Ace is around three football fields in size. It was on its way from Germany’s Port of Emden to a port in Davisville, Rhode Island, when the fire broke out on Feb. 16.

While the ship’s 22 crew members were evacuated the same day it caught fire, firefighters continued to struggle to put out the flames. The fire had abated in recent hours as per Joo Mendes Cabeças, captain of the nearest port on the Azorean island of Faial, according to Reuters. He went on to say that the fire’s intensity was likely reduced since there was little flammable material left to burn.

Cabeças told Reuters over the weekend that lithium-ion batteries in electric vehicles were “keeping the fire alive,” and that extinguishing it would require specialised equipment. It was also unclear whether the batteries were the source of the fire in the first place. There was also a danger that the fire would spread to the ship’s fuel tanks.

Tags: #firelambhorginiPorscherussell groupSEAshipVolkswagen
Tweet54SendShare15
Previous Post

Ohio-based White Castle to hire 100 robots

Next Post

Paytm shares hit fresh low, drop below Rs 800-mark for first time

Srestha Roy

Recommended For You

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

by Anochie Esther
July 10, 2025
0
NRIs

US President Donald Trump on Wednesday, July 9, 2025, announced a fresh wave of tariff demand letters, signaling a renewed and assertive push in his administration's trade policy....

Read more

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

by Anochie Esther
July 10, 2025
0
Starlink

After years of anticipation and navigating a complex regulatory landscape, Elon Musk's satellite internet venture, Starlink, has finally received the definitive green light to launch commercial operations in...

Read more

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

by Anochie Esther
July 10, 2025
0
Nvidia

Nvidia, the undisputed leader in graphics processing units (GPUs) and a pivotal force in the artificial intelligence (AI) revolution, achieved a historic milestone on Wednesday, July 9, 2025....

Read more
Next Post
Paytm

Paytm shares hit fresh low, drop below Rs 800-mark for first time

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?