Italy’s Leonardo (LDOF.MI) and Germany’s Rheinmetall (RHMG.DE) launched a joint venture on to develop and manufacture military combat vehicles

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Italy’s Leonardo and Germany’s Rheinmetall have launched a 50:50 joint venture, named Leonardo Rheinmetall Military Vehicles (LRMV), to develop and manufacture military combat vehicles. This partnership is seen as a significant step toward European defense sector consolidation, especially within the framework of the Atlantic Alliance. The venture will focus on developing Italy’s new main battle tank (MBT) and the Lynx platform for the Armoured Infantry Combat System (AICS), with first deliveries expected by 2025. It is projected to benefit from €24 billion in Italian government orders for 1,500 vehicles by 2040, with operations primarily based in Italy. The JV also aims to capitalize on a broader European market worth over €50 billion as countries renew their military fleets post-Ukraine war.

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