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Ineos and Damler Truck enlist in auto defense push as Europe bolsters military spending
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Ineos and Damler Truck enlist in auto defense push as Europe bolsters military spending

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— Ai Summary —

Ineos Automotive has aligned its Grenadier 4x4 platform with the UK Ministry of Defence, signaling a broader cross sector push as Europe increases defense spending. On Tuesday the British carmaker formed Team Grenadier with SMT Defence and NMS UK to supply vehicles for the MoD Light Mobility Vehicle program, using the Grenadier as the platform due to its four wheel drive, beam axles and high payload capacity. This follows a wave of similar alliances, including Daimler Truck Defence backed by several hundred million euros, Renault Thales armored vehicles, and Mercedes Benz anti drone work with Tytan Technologies. The shift comes amid a structural crisis in Europe’s auto industry, where weaker EV demand and higher borrowing costs threaten margins, prompting defense work as a growth pillar. Daimler Truck notes defense is a key part of its strategy and says about 1,000 employees already work in its defense unit, with plans to create additional demand for highly qualified specialists as the program expands.

AI-generated summary • Source: CNBC • Read the full article for complete information.
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