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VW plans German plant sale for Rafael air-defense project

4h ago ·  Source: JNS 86Objectivity score86/100

Lower Saxony and Israeli firm Aurelius aim to develop Volkswagen’s Osnabrück site into a defense hub after vehicle production ends in 2027.

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🗞️ In-depth summary

Volkswagen, the German state of Lower Saxony, and Israeli-owned Aurelius Capital have reached an agreement on the potential sale and conversion of VW's Osnabrück plant into a security and defense manufacturing center. After vehicle production ceases in 2027, Aurelius and Lower Saxony plan to collaborate with Israel's Rafael Advanced Defense Systems to manufacture air-defense systems and components for Germany and Europe. Rafael will provide technology and expertise, while the Osnabrück workforce will contribute to establishing production. This initiative aims to preserve the site and secure over 1,200 jobs long-term. Volkswagen Group CEO Oliver Blume called it "an important step towards opening up a new industrial future for the site." Rafael CEO Yoav Turgeman stated, "The technology will be fully manufactured in Germany and will contribute to strengthening the security of Germany in particular and Europe in general."

Automatically generated summary based on the original article; quotes are from the source.
This story is based on reporting by JNS.
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