Volkswagen to Sell German Site to Israel's Aurelius, State of Lower Saxony
By Adria Calatayud
Volkswagen said it reached an agreement with Israel's Aurelius Capital and Germany's state of Lower Saxony over the possible sale of the carmaker's Osnabrueck site in Germany.
Under the deal, investment company Aurelius would take over the plant as majority owner, together with the state of Lower Saxony and turn it into a security and defense facility, Volkswagen said Monday. Financial details weren't disclosed.
The site's new owners plan an initial air-defense project with Rafael Advanced Defense Systems that would involve potential manufacture of systems and components for Germany and Europe, Volkswagen said.
Volkswagen in 2024 laid out plans to cease making vehicles at its plants in the German cities of Dresden and Osnabrueck next year.
The agreement aims to secure the site's future and the majority of jobs for the long term, Volkswagen said.
Completion of the deal remains subject to final agreements, as well as approvals by relevant corporate bodies and regulatory authorities, the carmaker said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
September 07, 2026 06:05 ET (10:05 GMT)
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