Renowned automaker Porsche is considering entering the arms market, according to Europäische Sicherheit und Technik.
The decision comes in response to a sharp decline in Germany’s automotive industry, which led to Porsche losing approximately €20 billion in 2024. The company’s management aims to leverage Volkswagen’s experience, as VW is also exploring the defense industry as a promising sector. As part of its cost-cutting and business diversification strategy, Porsche is prepared to invest up to €2 billion in military projects.
It is worth noting that this is not the company’s first venture into the defense sector. In the 1960s, Porsche played a role in the development of the German Leopard 1 tank. Now, the automaker plans to return to manufacturing armored vehicles and weapons to compensate for its multi-billion-dollar losses.
Earlier, reports indicated that Volkswagen is also considering producing weapons for the German Armed Forces (Bundeswehr).
