Digital twins are emerging as a prime analysis, prediction, and control concepts for enabling the Industrie 4.0 vision of cyber-physical production systems (CPPSs). Today’s growing complexity and volatility cannot be handled by monolithic digital twins but require a fundamentally decentralized paradigm of cooperating digital twins. Moreover, societal trends such as worldwide urbanization and growing emphasis on sustainability highlight competing goals that must be reflected not just in cooperating but also competing digital twins, often even interacting in “coopetition”. This paper argues for multi-agent systems (MASs) to address this challenge, using the example of embedding industrial digital twins into an urban planning context. We provide a technical discussion of suitable MAS frameworks and interaction protocols; data architecture options for efficient data supply from heterogeneous sensor streams and sovereignty in data sharing; and strategic analysis for scoping a digital twin systems design among domain experts and decision makers. To illustrate the way still in front of research and practice, the paper reviews some success stories of MASs in Industrie/Logistics 4.0 settings and sketches a comprehensive vision for digital twin-based holistic urban planning.