Rheinmetall constructs Lynx tanks in Ukraine.
German defense giant Rheinmetall is strengthening its bond with war-torn Ukraine. The Eastern European nation is set to receive hundreds of Lynx armored vehicles, with plans to manufacture them domestically as well. The DAX-listed company has gone one step further.
Rheinmetall is looking to produce its Lynx armored vehicles in Ukraine currently. An agreement with the nation was signed during the reconstruction conference in Berlin, announced the corporation. The tank is currently produced in Germany and Hungary.
Rheinmetall CEO Armin Papperger stated in the declaration, "We aim to swiftly initiate production of these systems in Ukraine." "Additionally, we plan to give away the first Lynx armored vehicles to the country this year." Ukrainian Minister for Strategic Industries, Oleksandr Kamyschin, informed Handelsblatt, "This year, we will produce the first Lynx." According to a Rheinmetall PR rep, the production will be taken over by the joint venture Rheinmetall Ukrainian Defense Industry. Rheinmetall owns 51%, while Ukraine's state-owned conglomerate UDI posses 49%.
Rheinmetall mentioned in their statement about plans for a forthcoming framework agreement for the provision of several hundred Lynx armored vehicles. This would incorporate training, maintenance, and upkeep.
Ukraine and Rheinmetall have been working together on several initiatives already. In February, they consented to produce 155mm artillery projectiles together in a future "Ukrainian Competence Center for Ammunition." Rheinmetall will hold a 51% stake in this joint venture. Initial talks about the joint venture's formation have already been underway, as per Papperger.
Kamyschin remarked in the announcement, "One day, Ukraine will join the EU and NATO. Both organizations will then have a powerful ally with a robust defense sector that doesn't compete but supports. Let's team up to stockpile the armory of the free world."
Rheinmetall has been gradually increasing its production in Ukraine since Russia invaded the nation. The multinational is one of the world's biggest ammunition manufacturers. It also supplies tanks to Ukraine. Rheinmetall recently launched a tank maintenance workshop in the west of the country with Ukraine.
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Rheinmetall's decision to produce Lynx tanks in Ukraine could signal a shift in the country's defense sector, potentially fostering stronger ties with Russia's neighbor. The German company's move to manufacture these armored vehicles in Ukraine, in partnership with Ukraine's state-owned conglomerate, UDI, could potentially be seen as a strategic move amidst the ongoing conflict in Ukraine.
Rheinmetall's plan to provide Ukraine with Lynx tanks, including the first vehicles this year, is taking place amidst the ongoing attack on Ukraine by Russian forces. The provision of these tanks could potentially enhance Ukraine's defense capabilities against Russian tanks and other armored vehicles.
