German Army Places €770 Million Order for 1,400 Military Vehicles and Equipment with Rheinmetall
- Nejla Kılınç
- Aug 5
- 1 min read
The German army has awarded a €770 million contract to Rheinmetall for 1,400 military vehicles and pieces of equipment — a move that drew attention amid Europe’s increased military spending in response to global tensions.
André Barthel, CEO of Rheinmetall MAN Military Vehicles, stated:"We are pleased to contribute to the mobility and operational readiness of the armed forces."
Deliveries are expected to be completed before the end of 2025.
Shares of Rheinmetall, a Düsseldorf-based defense company, rose by around 3% following the news. The firm has become one of the biggest beneficiaries of Europe's rising defense budgets, with its stock gaining more than 190% since the beginning of the year.
Germany has committed to raising its defense spending to 3.5% of its GDP by 2029.
Meanwhile, NATO has agreed to raise member states’ military spending targets from 2% to 5% of GDP by 2035.
Source: Euronews
Image: A Leopard 2 tank on the production line in Unterlüß, Germany / AP
