World News
Qatari investors block Volkswagen’s planned defence deal with Israel
Volkswagen’s plans for a defence partnership with Israel’s Rafael have been vetoed by the German automaker’s Qatari investors, media reported.
Qatar’s sovereign wealth fund, Volkswagen’s third-largest shareholder, rejected the management’s proposal to manufacture missile components and military vehicles at the company’s Osnabruck plant, the Bild newspaper reported on Friday.
The move comes after Volkswagen CEO Oliver Blume said in March that the company will stop manufacturing Volkswagen Group vehicles at Osnabruck starting in 2027 and confirmed talks with several defence firms about shifting the plant for military vehicles production.
Blume provided no further details at the time.
The proposal has sparked significant controversy in Germany.
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