Tue Oct 15 10:04:50 -2024 UTC–Leonardo and Rheinmetall are establishing a joint venture for European tank production.
Formation of Leonardo Rheinmetall Military Vehicles (LRMV)
Leonardo S.p.A. and Rheinmetall AG have established a 50-50 joint venture, Leonardo Rheinmetall Military Vehicles (LRMV), to enhance Europe’s defense capabilities through the production of cutting-edge military combat vehicles. The joint venture, which is expected to be fully established by the first quarter of 2025, will be headquartered in Rome, with operational headquarters in La Spezia.
Strategic Focus on Italian Army’s Land Systems
The primary objective of LRMV is to support the Italian Army’s land systems modernization by developing the new Italian main battle tank (MBT) and the Lynx platform for the Armoured Infantry Combat System (AICS). The joint venture will also focus on engineering and support vehicles, such as recovery and bridge-laying units, vital to the Italian Army’s tactical and logistical capabilities.
Expanding European and Global Defense Market Reach
Both Leonardo and Rheinmetall expect that LRMV’s products will find robust demand in international markets, beyond their initial domestic focus. The partnership aims to position LRMV as a central player in the European defense landscape, driving innovation and increasing competitiveness in the global armored vehicle market.