Germany Plans to Produce Armored Vehicles in Ukraine in 2024

The German Rheinmetall AG defense conglomerate is set to produce its first armored vehicles in Ukraine in 2024, according to company CEO Armin Papperger in an interview with WirtschaftsWoche magazine. The focus will be on Fuchs armored personnel carriers and Lynx infantry fighting vehicles.

"After the signing of the contract, we aim to complete the first Fuchs within 6-7 months, and the first Lynx within 12-13 months," stated Papperger.

In October, Ukraine and Rheinmetall AG established a joint defense enterprise for the production of weapons and the repair of equipment supplied by the West.

Rheinmetall's operational profit reached a record €754 million in 2022, which is a 27% increase compared to 2021 figures. Armin Papperger noted that the company’s profitability is largely linked to the ongoing "war in Europe."