ELVO – Hellenic Vehicle Industries SA (a company of the Israeli SK Group) and Rheinmetall MAN Military Vehicles (RMMV) signed a letter of intent at the end of April, thereby establishing a strategic partnership aimed at strengthening Greece’s defense production capacities and supporting the operational requirements of the Greek armed forces.
The agreement creates a framework for collaboration on the integration of advanced superstructures – including air defense systems – as well as on the production of military trucks tailored specifically to the needs of the Greek Army, the Navy, and the Air Force, according to the companies when announcing it. This initiative underscores the joint commitment to delivering powerful, ready-to-use solutions while also promoting Greece’s defense autonomy.
The Israeli company SK Group had only at the end of 2025 acquired the remaining shares in ELVO – Greece’s leading manufacturer of specialized vehicles for military and civilian use – and has since become the sole owner. SK Group had previously been a shareholder. The acquisition underscores SK Group’s new, long-term orientation in Greece and Europe. By partnering with local industry or through acquisitions, the footprint in Europe is to be strengthened. This follows the demands of many European customers for production and a supply chain within the EU.
ELVO Produces, Among Other Things, the Greek Leopard 2 HEL Battle Tank
ELVO builds many vehicles under license, including Steyr trucks, specialized vehicles, and buses, and operates the production line for the Greek Leopard 2 HEL battle tank. The cooperation between ELVO and Rheinmetall MAN Military Vehicles marks the beginning of a strategic partnership aimed at expanding Greece’s defense production capacities and supporting the operational requirements of the Greek armed forces.
Rheinmetall MAN Military Vehicles GmbH strengthens this partnership with its extensive portfolio of logistic and tactical vehicles – from militarized civilian platforms to highly mobile, purely military trucks. These vehicles are available in configurations from 4×4 to 10×10, designed for the most demanding off-road conditions and adaptable to every mission profile. Worldwide valued for their robustness and modularity, they provide operational reliability under a wide range of environmental conditions.
The agreement creates a framework for collaboration on integrating logistical and advanced superstructures – such as air defense systems – as well as on the assembly of military trucks configured specifically for the Greek Army, the Navy, and the Air Force. This initiative reflects the joint commitment to delivering powerful, ready-to-use solutions while strengthening Greece’s defense autonomy.
Operationally Ready Solutions for the Greek Armed Forces
Through the collaboration, ELVO and RMMV aim to link local expertise with international experience, thereby creating a strong industrial foundation that covers Greece’s defense needs and contributes to the country’s economic development. A central pillar of the partnership is the further strengthening and expansion of ELVO’s production line. This development is intended to create new qualified jobs and to revitalize the regional economic environment as a whole, thereby promoting long-term industrial growth and innovation.
ELVO’s facilities in Thessaloniki form a cornerstone of the Greek defense industry and have a long-standing tradition in vehicle manufacturing, modernization, and maintenance. ELVO aims for a key role in supplying both national and international customers. The plant has comprehensive capacities in production, assembly, and maintenance, thus occupying a strategic key position for future defense programs.
“The collaboration with Rheinmetall MAN Military Vehicles GmbH marks a significant milestone – both for ELVO and for the future of the Greek defense industry,” stated Antonis Vitetzakis, Chief Executive Officer of ELVO. “By joining ELVO’s established manufacturing base and local expertise with Rheinmetall’s global experience and advanced vehicle technologies, we are creating a powerful platform to provide the Greek armed forces with ready-to-use solutions.”
