Daimler Truck and Renault move into defense
European automobile companies, such as Daimler Truck and Renault, are shifting toward the defense industry to boost sources of growth, with plans to develop military products like armored vehicles and drones. Daimler Truck aims to achieve revenues of one billion euros by 2028, increasing its production capabilities and expanding in this sector, while Renault is working on developing a military vehicle in collaboration with Thales. This move comes amid increased European military spending and companies seeking to strengthen their presence in the defense market.
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