The armaments company could soon produce Panther main battle tanks in Ukraine. The negotiations are nearing completion.
Dusseldorf - The plan of the German armaments group Rheinmetall to build a factory for Panther main battle tanks in Ukraine now seems to be taking concrete shape - in the next few weeks, the company wants to conclude cooperations and joint ventures with Ukrainian companies, announced Rheinmetall CEO Armin Papperger at the virtual annual general meeting of the defense company on Tuesday (May 9). The production of the Lynx infantry fighting vehicle in Hungary could serve as a model for this.
Rheinmetall plans new tank factory in Ukraine
Germany's largest armaments company Rheinmetall could soon produce tanks, ammunition and anti-aircraft defense in Ukraine - at the moment the group is negotiating with Ukrainian companies about the establishment of a joint venture, the CEO of Rheinmetall announced at the virtual Annual General Meeting. The Ukrainian state would invest in new factories where Rheinmetall could, among other things, produce its new Panther main battle tank. The armaments company advertises it as the "most modern main battle tank".
Rheinmetall's new "KF51 Panther" tank is intended to be a "game changer for the battlefields of the future". © Screenshot/Twitter/@RheinmetallAG
According to Rheinmetall's plans, up to 400 tanks of this type could be produced per year. Talks with Kiev on the tank project are promising, Papperger said. The production of tanks, anti-aircraft defense and ammunition is intended to support Ukraine: "In this way, we will enable Ukraine to defend itself in the medium and long term," said the CEO. Rheinmetall apparently expects a long-lasting crisis situation in the Ukraine conflict - in the next ten years, the demand for tanks from Ukraine will be very high, Papperger estimates.
Rheinmetall's weapons production in Hungary as a model
Rheinmetall's factories in Hungary could serve as an economic model. In cooperation with the Hungarian state, the armaments company is building three new plants there for the production of the Lynx infantry fighting vehicle and ammunition: "In the future, our newly developed Panther main battle tank could roll off the assembly line at a Ukrainian plant according to a comparable pattern," said Papperger. However, there is criticism of arms production in Hungary - the arms industry there is being significantly expanded and exports to other countries are being made possible, although the Orban government has been demonstrating democracy and the rule of law for years, criticised, for example, peace activist Ruth Rode from the Armaments Information Office (RIB).
Hungary has already ordered 218 Lynx infantry fighting vehicles, which are to be produced at the new Rheinmetall plants. It is still unclear whether Ukraine could also benefit from arms production in Hungary. "Hungary decided at the beginning of the war not to supply weapons to Ukraine. This is still the official position of the Hungarian government. Even if there are looser export rules in Hungary than in Germany, for example," said Andreas Bock, Hungary analyst at the think tank "European Council on Foreign Relations" in the ntv podcast "Wieder was gelernt".
Hungary is not supplying weapons to Ukraine so as not to be drawn into the war, according to the attitude of Viktor Orban's government. However, Hungary expert Andreas Bock thinks it is possible that ammunition from the Rheinmetall plants in Hungary could be exported to Ukraine in the future.
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German armaments company Rheinmetall: Profits and criticism
Rheinmetall is on a strong growth trajectory. Since the beginning of the Ukraine war, the company's share value has almost tripled. This is also due to the increased global demand for armaments against the backdrop of the Ukraine war. "You can assume that 2023 will be the best year in the company's history in terms of incoming orders," Papperger said to shareholders at the Annual General Meeting. It was only at the end of March that Rheinmetall was promoted to the DAX.
However, there is also criticism of the armaments company: On the occasion of Rheinmetall's annual general meeting, there was a protest action by the "German Peace Society" (DFG) under the motto "Rheinmetall indignation". The demonstrators demanded that Rheinmetall switch to civilian products and stop arms exports to crisis and war zones. In addition, the federal government should pass a strict arms export control law that closes loopholes through subsidiaries abroad. (kasa/dpa)