Volkswagen to convert car plant for Israeli defence group Rafael
The carmaker will sell the Osnabrueck plant to Tel Aviv-based Aurelius Capital and Lower Saxony, with Rafael Advanced Defence Systems planning an initial air defence project.
German car manufacturer Volkswagen announced plans to convert a plant in Osnabrück, Germany, for defense equipment manufacturing by Rafael Advanced Defence Systems, an Israeli company, after halting car production at the site in 2027. Volkswagen CEO Oliver Blume stated that the move represents a significant step towards a new industrial future for the facility, with Volkswagen committing to preserving at least 1,200 jobs at the factory.
The deal also involves the sale of the Osnabrück plant to Tel Aviv-based Aurelius Capital, with the Lower Saxony government as a major shareholder. Volkswagen, facing weak demand and competition from Chinese automakers, is grappling with the shift towards electric vehicles and has recently agreed to cut a further 50,000 jobs across its global operations, totaling 100,000 positions at risk in the coming years.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Volkswagen to convert car plant for Israeli defence group Rafael freemalaysiatoday.com
