Italian Leonardo S.p.A., specializing in aerospace, defense and security, and the German automotive and arms manufacturer Rheinmetall AG announced Tuesday that they formed a 50:50 joint venture to develop military combat vehicles, with legal headquarters in Rome and operational activities centered in La Spezia.
The venture, expected to begin operations in early 2025, will focus on equipping the Italian military with a new main battle tank (MBT) and the Lynx, an Armoured Infantry Combat System (AICS). Sixty percent of the venture's activities will take place in Italy. The partnership also aims to explore export opportunities.
"We are creating a new heavyweight in European tank production. Leonardo and Rheinmetall, two leading European suppliers of defense technology, are joining forces to carry out ambitious projects. We are primarily addressing the Italian market, but we will also be targeting other partner nations which are in need of modernizing their combat systems in the future," Rheinmetall CEO Armin Papperger noted.
