NEUILLY-SUR-SEINE (dpa-AFX) - French automobile company Renault Group (RNLSY, RNL.PA) announced a partnership with Thales Group (THLEF.PK, TCFP.PA), a French aerospace and defence company, to jointly develop and industrialise large-scale Thales' TOUTATIS Loitering Munition production in France.
The partnership follows the launch of 4 TROOP, a tactical vehicle integrated with drones, sensors, hybrid secure communications and AI-powered decision support tools, by the companies on Monday.
The TOUTATIS short-range loitering munition is designed for high-density conflicts as it provides the army with operational advantages, giving the dismounted soldiers ability to deploy the drones from various platforms. Resistant to electromagnetic jamming and armed with a warhead, TOUTATIS is capable of neutralizing combat vehicles and ensuring that human operators are within the decision-making loop.
Through the partnership, the production of TOUTATIS could begin as early as 2027, with manufacturing capacity of 1000 units per month from the first year, reflecting a significant ramp up in France's industrial capacities in this strategic field.
François PROVOST, Chief Executive Officer of Renault Group, stated, 'Renault Group brings its industrial expertise to the TOUTATIS project, along with the highest standards of automotive manufacturing, to design, industrialise and produce at scale, within shortened timelines and at optimised costs. . It makes a tangible contribution to the initiatives undertaken with the French Ministry of the Armed Forces and strengthens both French and European defence capabilities.'
On the Paris Stock Exchange, the shares ended Tuesday's regular trading 3.40 percent lower at 27.82 Euros. On the OTC, the shares ended Tuesday's regular trading 4.66 percent lower at $6.3.4.
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