Hanwha to Build Armored Vehicles in Canada if It Wins Submarine Contract

South Korea’s Hanwha Group said it will partner with Canadian auto parts firms to build armored vehicles if it wins a contract to build a new submarine fleet for Canada.

The conglomerate is competing for a lucrative submarine deal with a German rival, Thyssenkrupp Marine Systems. Prime Minister Mark Carney’s government plans to buy as many as 12 submarines worth tens of billions of Canadian dollars, but is pushing the bidding groups to include other industrial benefits in their pitches.