Volkswagen plant to be converted for Israeli defense group
A logo of German carmaker Volkswagen (VW) is pictured behind a red traffic light at the Volkswagen plant in Osnabruck, Germany, on Nov 6, 2024. (AFP Photo)
Crisis-wracked German auto giant Volkswagen has said one of its plants would be sold off and converted to make defense equipment after car production ends there.
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, U.S. tariffs and patchy electric car sales.
The announcement is also the latest tie-up between Germany’s ailing auto industry and the defense sector, which is booming as countries build up their militaries to face an increasingly dangerous world.
