Last time we checked on Osnabruck, the German factory was heading toward a very dismal ending. Production was scheduled to end in the summer of 2027, yet Volkswagen AG has recently agreed on key terms with two parties for the possible sale of the complex.

      

The German state of Lower Saxony and Aurelius Capital are the parties in question. As for the proposed agreement, Aurelius intends to transform the German facility that currently makes the T-Roc Cabriolet for Volkswagen into a defense and security production hub for Rafael Advanced Defense Systems.

 

Aurelius is an investment firm headquartered in Tel Aviv, Israel, while Rafael operates from Kiryat Bialik, Israel. As of this writing, the transaction isn't finished. The Volkswagen Group explains that regulatory reviews, corporate approvals, and final agreements are still required before the sale can proceed.