German arms manufacturer Rheinmetall is busy getting back into gear. At the same time, Volkswagen has floated the possibility of selling off several factories.
Volkswagen wants to get rid of several factories in Germany. This is the first time ever in the brand's history that this has happened. Now German arms manufacturer Rheinmetall wants to step in.
Several media outlets – including Fortune – are reporting this this week.
Specifically, Rheinmetall is talking about moving into Volkswagen's factory in Osnabrück, where the VW Group is currently assembling both the Volkswagen T-Roc Cabriolet and the Porsche 718 Boxster.
The announcement comes at a time when the European arms industry is looking forward to a few – if not more – very lucrative years, because the EU has decided to rearm.
All this on top of the threat from Russia and the signals from the United States that they will not necessarily come to Europe's rescue in the event of war.
Right now, over 2,300 men work at the VW factory in Osnabrück. It is not known whether they are also of interest to Rheinmetall. But in general, the livelihood of the employees is at risk.
Volkswagen has announced that the brand alone will cut 35,000 jobs. This week it was also revealed that Porsche will be cutting 4,000 of its employees.
And so it continues with cuts internally within the group. At Skoda, which is otherwise doing well in the sale of electric cars in Denmark, among other places, there are to be even more cuts. Namely 8,000 positions.
Back at Rheinmetall, the weapons company's director Armin Papperger said on Wednesday this week that Osnabrück will fit nicely into the group's plans.
Although Armin Papperger at the same time denies that there is anything concrete on the table between the arms company and VW, he emphasizes that 'it can develop very quickly'.
