A significant deal involving a Greek domestic defense contractor has sparked controversy as the opposition party New Left has vocally opposed the sale of the Hellenic Vehicle Industry (ELVO) to Israel’s SK Group. This acquisition is poised to position SK Group, which also owns Israeli Military Industries and Israeli Shipyards, as a major player in Greece’s defense sector.
New Left has characterized the sale as a grave mistake, suggesting it represents a further concession of essential public infrastructure and critical industry. The Thessaloniki-based ELVO has an established history, having dedicated nearly half a century to the production of tactical and specialized military vehicles, heavy-duty trucks, and armored systems, primarily under license for Greece’s armed forces. Notable products from ELVO include the Leonidas armored personnel carrier, as well as models from Mercedes-Benz and Steyr, alongside the Leopard 2 main battle tanks.
The opposition party has made it clear that they perceive the acquisition as more than just a commercial transaction, asserting it to be aligned with broader geopolitical issues. Criticism has been directed toward Greek Prime Minister Kyriakos Mitsotakis’ administration for allegedly siding with Israel amid ongoing conflicts in Gaza. New Left claims that such a decision not only jeopardizes national security but also places Greece in a position of dependency.
The party expressed grave concerns about the implications of transferring a crucial component of national defense to foreign ownership, particularly at a time they describe as genocidal in Gaza, suggesting that the move compromises Greece’s technological independence and security posture.
In response to the backlash, SK Group, which had previously held a minority stake in ELVO, described the acquisition as a strategic commitment to enhancing Greece’s defense industry. The company aims to utilize its experience in revitalizing privatized factories and emphasize technology transfer to transform ELVO into a prominent production and export hub in Europe. The deal also signifies SK Group’s first operational base in Europe, indicating its intent to establish a significant presence in the military and commercial vehicle markets.
The tension surrounding this sale highlights the broader debates about national sovereignty, defense capabilities, and international relations, particularly as countries navigate complex geopolitical landscapes.
