ELVO announces 40 million euro investment in defense technology

ELVO (Hellenic Vehicle Industry) has announced a 40 million euro investment program aimed at transforming the company into a high-tech defense industry hub in Southern Europe. The initiative focuses on modernizing existing military vehicle production capabilities while expanding into emerging defense technologies, specifically anti-drone systems and Unmanned Aerial Systems (UAS).

The investment, centered at the company’s facilities in Sindos, is expected to create approximately 300 new jobs for specialized engineers, technicians, and operational staff. This expansion is intended to meet the functional requirements of the Greek market while increasing export competitiveness in international markets.

This new program follows previous restructuring efforts by the SK Group, which has already invested over 20 million euros into ELVO. Combined, these investments represent a significant capital commitment to upgrading facilities and optimizing production processes to support the regional industrial ecosystem.