Rheinmetall is reportedly planning to set up its first defense manufacturing site in Japan, possibly via a joint venture with a Japanese partner, aiming to serve both domestic demand and export markets, according to a Nikkei report citing the company’s CEO.

The head of German defense company Rheinmetall has expressed concern that France may withdraw from a joint Franco-German tank program, following the collapse of a previous collaborative fighter jet project, according to a report on Saturday.

Germany has placed a massive €1 billion ($1.2 billion) order for more than 2,000 military transport vehicles from defense giant Rheinmetall. The deal is part of a high-stakes rush by Berlin to aggressively modernize its armed forces, the Bundeswehr, in response to growing security anxieties sweeping across Europe.

Rheinmetall has showcased its new FV-014 loitering munition to a potential NATO customer.

Italy has approved the start of production at German defence company Rheinmetall’s plant on the island of Sardinia, the company said.

German defense company Rheinmetall said on Tuesday it has signed a technology supply agreement with Polish deep-tech firm SATIM Monitoring Satelitarny to support SPOCK-1, a next-generation satellite reconnaissance program for the German armed forces.

German defence company Rheinmetall AG is set to expand its ammunition production capacity with a new state-of-the-art facility in Latvia, producing 155 mm artillery shells. A Memorandum of Understanding (MoU) for the project was signed in Hamburg in the presence of Latvian Prime Minister Evika Silina.

Rheinmetall AG is opening Europe’s largest ammunition production facility, following a brief delay.

Rheinmetall (RHMG.DE), the German defense manufacturer known for tanks, grenades, and infantry fighting vehicles, reported second-quarter sales and profit below market expectations on Thursday, citing delays in German defense contract awards. Despite this, the company reaffirmed its full-year sales growth forecast, anticipating a surge in orders in the second half of the year.

European defense company shares plummeted on Monday, erasing some of their year-to-date gains, as a sharp selloff in equities, triggered by U.S. President Donald Trump’s sweeping tariffs, intensified.