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11:10 AM, June 13, 2019
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The proposed joint venture (JV) between Rheinmetall and BAE Systems to manufacture military vehicles has been approved by the UK Competition and Markets Authority (CMA).

The JV will be known as Rheinmetall BAE Systems Land (RBSL). The company will manufacture British Army's new 8x8 wheeled Mechanised Infantry Vehicle (MIV), upgrade of the Challenger 2 Main Battle Tank fleet and will take part in other strategic combat vehicles programmes.

In January, Rheinmetall announced it will purchase a 55 percent stake in the existing BAE Systems UK based combat vehicles business, with BAE systems retaining 45 percent. The new Joint Venture will be headquartered at BAE Systems’ facility in Telford, England.

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