Italy’s Leonardo and Germany’s Rheinmetall have secured two Italian Army armored vehicle contracts worth a combined $4.16 billion through their joint venture, according to a Thursday report from Italy’s MF newspaper. The reported awards cover two major vehicle programs tied to Italy’s broader military modernization effort.

The orders call for the supply of A2CS combat vehicles and new generation MBT tanks, the Italian financial daily reported. Together, the contracts would place both companies at the center of a substantial Italian Army armor procurement effort.

MF described the two awards as part of Italy’s wider military modernization program. The contracts would therefore connect the joint venture’s armored vehicle work directly with Italy’s plans to update its military capabilities.

Leonardo CEO Lorenzo Mariani did not confirm that a contract had been signed. He said he could not provide that confirmation “as any communication on the matter must be coordinated with our clients.”

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That caution leaves the reported awards resting on the account published by MF. At the same time, Mariani provided a detailed assessment of the joint venture’s readiness and its ongoing work with Rheinmetall.

Leonardo and Rheinmetall launched their jointly owned venture in 2024, with ownership divided equally between the Italian and German companies. The partnership created a shared vehicle for cooperation between two major European defense businesses.

“The programme is ready to enter production from our side. We are actively working on both the tank programme and the Future Combat System (FCS), and are progressing on both in close cooperation with Rheinmetall,” Mariani said in Rome.

His comments presented the industrial work as active and advancing, even as he declined to confirm the reported contract signing. Mariani specifically identified both the tank program and the Future Combat System as areas of close cooperation with Rheinmetall.

Mariani spoke on the sidelines of the annual meeting of Fondo Italiano d’Investimento, which is backed by the state. His remarks centered on the partnership’s production position and the importance of its armored vehicle programs.

The Leonardo executive emphasized that tanks matter to the modernization of Italy’s defense. He also highlighted their significance for exports and for the broader relationship between Leonardo and Rheinmetall.

The reported A2CS and MBT orders would represent two separate contracts under the joint venture. Their combined $4.16 billion value reflects the scale of the armored vehicle procurement described by MF.

The partnership’s structure also places the two companies on equal footing within the venture established in 2024. According to Mariani, work is moving forward in close cooperation on both the tank effort and the Future Combat System.

MF’s report tied the contracts specifically to the Italian Army and its modernization program. The newspaper identified the planned supplies as A2CS combat vehicles and new generation MBT tanks, making armored forces the clear focus of the reported procurement.

For now, the newspaper’s account and Mariani’s comments offer two distinct parts of the picture. MF reported that the contracts had been secured, while Mariani declined to confirm a signing and said any communication would have to be coordinated with the clients.

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