Israeli-owned ELVO to turn Greek factory into defense tech hub

By Kostis Konstantinou/TPS-IL

ELVO, Greece’s historic military and civilian vehicle manufacturer, announced Friday a €40 million ($46.5 million) investment to turn its Sindos complex near Thessaloniki into a production and research hub for Israeli defense technologies.

Fully owned by Israel’s SK Group, ELVO will introduce Israeli know-how, including unmanned aerial and counter-drone systems, modernize its military vehicle production and create about 300 jobs.

SK Group became ELVO’s sole owner in 2025 after acquiring the remaining shares, gaining its first operational manufacturing base in Europe and a platform for transferring Israeli defense technology into European production.

-JNS