Volkswagen Strikes Deal with Israel Investment Firm to Turn Car Plant Into Defense Facility
- On Monday, the German state of Lower Saxony, Rafael Advanced Defense Systems, and Aurelius Capital signed a letter of intent to purchase Volkswagen's Osnabrück plant, establishing a center for producing Iron Dome support systems and military equipment.
- Qatar, Volkswagen's largest foreign shareholder, blocked the original cooperation proposal, prompting the shift to a full purchase of the site by the new partners.
- The Osnabrück plant currently employs 2,300 people producing Porsche and Volkswagen models; while the Iron Dome's Tamir interceptor will not be manufactured there, Rafael will produce military vehicles, launchers, and generators.
- Minister-President of Lower Saxony Olaf Lies stated the partnership creates "realistic opportunities for long-term, highly skilled employment" at the facility, noting that Germany's security environment has changed fundamentally.
- Rafael President Yoav Tourgeman noted the partnership aims to "protect Germany and Europe," adding that the technology is designed for defense of "today, tomorrow, and well beyond" to ensure reliable security.
184 Articles
184 Articles
German carmaker Volkswagen has reached an agreement with the state of Lower Saxony and Israeli company Aurelius Capital on the possible sale of Volkswagen's plant in Osnabrück. The plant is expected to produce components for the air defense system of Israeli state-owned company Rafael Advanced Defense Systems from next year.
The German car group Volkswagen announced on Monday the conversion of its factory in Osnabruck (West Germany), a symbol of the orientation of the German car industry, which is currently undergoing a large crisis, to the expanding defence sector.
Volkswagen is going to sell one of the plants in Germany, which will be turned into a defense enterprise The plant is planned to turn into a defense technology center with the production of air defense <p>systems. The work can be saved by 1400 employees</p>.
Volkswagen plant to be converted for Israeli defence group
It is part of a sweeping overhaul at Europe's top carmaker, which is already pushing through the biggest job-cutting drive in global auto industry history as it battles Chinese competition, US tariffs and patchy electric car sales. The announcement is also the latest tie-up between Germany's ailing auto industry and the defence sector, which is booming as countries build up their militaries to face an increasingly dangerous world. VW's Osnabrue…
A Volkswagen car plant in northwestern Germany will be converted for the production of defence equipment, the company announced on Monday, at a time when Europe's largest economy increases its military spending in the face of...
The Volkswagen factory in Osnabrück, Germany, is being acquired by a foreign owner. It concerns the Israeli investment company Aurelius, which focuses on defense and cybersecurity. Aurelius has a deal with the maker of the Iron Dome to produce defense systems for Europe. The Iron Dome is part of Israel's advanced air defense system. Volkswagen is in serious trouble. Last week, the group announced that 50,000 employees would lose their jobs and …
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