Leonardo, Rheinmetall Join Forces to Build Tanks in Europe

Italy’s Leonardo SpA and Rheinmetall AG of Germany agreed to form a joint venture to build combat tanks in Europe, combining efforts on fighting vehicles as defense spending rises across the region.

The collaboration represents one of Europe’s most prominent cross-border military contracting alliances since the start of the war in Ukraine. The venture, headquartered in Rome, will develop a new main battle tank for Italy and a Lynx fighting vehicle, and will eventually sell tanks to other clients abroad, the companies said Tuesday.