Hungary’s Potential Gain from Rheinmetall and Leonardo’s Joint Tank Project
Rheinmetall and Leonardo Joint Venture to Boost Tank Construction
Rheinmetall, a German defense company, and the Italian defense company Leonardo have joined forces to establish a joint venture focused on tank construction. Both firms will hold equal shares in this collaboration, which is expected to generate significant orders valued between EUR 23 and 24 billion. The joint venture will encompass nearly 1,500 vehicles, including the Panther KF51 battle tank and Lynx infantry fighting vehicle for the Italian Army.
CEO Armin Papperger described the order as “huge,” emphasizing its potential for future exports. Hungary is poised to play a vital role in this venture, with Rheinmetall’s facility in Zalaegerszeg, western Hungary, set to produce the Panther and Lynx models. The Hungarian government has committed approximately EUR 288 million to develop the Panther EVO, a tank designed independently of the Leopard 2 chassis.
The Zalaegerszeg plant has been identified as a potential export hub for these armored vehicles, indicating a promising future for military production in Hungary. With seventy engineers dedicated to developing the Panther, the factory signifies Hungary’s commitment to advancing its defense industry. The collaboration between Rheinmetall and Leonardo marks a pivotal moment for NATO’s collective defense efforts, aiming to enhance military capabilities in Europe.
Mr. Papperger highlighted that this joint venture not only addresses immediate defense needs but also aims to establish a sustainable European defense system moving forward. The partnership between these two giants in the defense industry is set to bolster tank construction and bolster NATO’s defense capabilities in Europe.
Via Handelsblatt, Hungarian Nation
Featured Image: honvedelem.hu
