Frankfurt, Germany, June 3, 2026 (AFP) - Germany's Rheinmetall sells auto unit to focus on defence

NAMPA / AFP

2026-06-03

Germany's Rheinmetall said Wednesday it will sell its struggling auto division to an investment firm for around 350 million euros ($400 million) to focus solely on its booming defence business. The group has seen fast-growing demand for its armaments, from ammunition to air defence systems and military vehicles, as Europe races to rearm faced with a hostile Russia and worries about US security guarantees. It also has a smaller unit supplying carm......

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