Volkswagen enters defense sector with Israel合作
German Volkswagen Company is moving to convert one of its factories in Germany into the defense sector, as part of its strategy to restructure its plants and address competitive challenges from Chinese companies. The factory in Osnabrück will be sold to Israeli company Aurelius Capital and the state of Lower Saxony, while retaining approximately 1,400 of the original 1,800 jobs, aiming to reduce excess production capacity resulting from declining demand and rising costs. The factory is scheduled to cease car production by 2027, with potential cooperation involving the manufacturing of air defense systems, especially given Europe's increasing interest in spending on defense equipment to confront security challenges.
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