Business news from Ukraine

Business news from Ukraine

Rheinmetall plans to launch production of armored vehicles in Ukraine

4 December , 2023  

German arms maker Rheinmetall AG wants to build its first armored vehicles in Ukraine next year, the concern’s chief executive officer Armin Papperger said, Reuters reports.

According to Papperger, he expects an agreement with Ukraine to build Fuchs armored transport vehicles, named after the German word for fox, and Lynx infantry fighting vehicles to be signed by early next year.

“After signing the contract, we want to finish the first Fuchs within six to seven months, and the first Lynx within 12 to 13 months,” he said.

It is noted that in October, Ukraine announced the creation of a joint defense venture with Rheinmetall AG to help in the local production of some key types of equipment, as well as to maintain and repair Western weapons sent to Kyiv against a full-scale Russian invasion.

According to Reuters, Ukrainian officials hope that cooperation with Western arms manufacturers will help revive the domestic arms industry, which suffered from inefficiency and lack of transparency for years before Russia’s invasion.

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