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Volkswagen and Rafael near Iron Dome deal
The article concerns a potential agreement between the German company Volkswagen and the Israeli company Rafael to manufacture support equipment for the "Iron Dome" defense system, including trucks for transporting missiles and launchers in the city of Osnabrück, Germany. The signing is expected to be finalized in the coming weeks despite ongoing negotiations, with plans including transferring part of the factory's ownership to the state of Lower Saxony to avoid opposition from Qatar Investment Authority, which owns more than 10% of Volkswagen's shares. This project comes at a time when Volkswagen is facing significant economic challenges, such as the need to reduce expenses, rising labor costs, low production capacity, and increasing competition from Chinese firms, especially with the scheduled end of production of its last model at the Osnabrück plant next year. The success of this project is strategically important, as it could help meet the growing global demand for air defense systems, and offers Volkswagen an opportunity to preserve jobs and avoid closure before the supervisory board meeting scheduled for September.
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