Hanwha & Canada Team Up for Armored Vehicles, Submarine Contract

0:00South Korean giant Hanwa is teaming up with Canada's Auto Parts Manufacturers Association to build armored military vehicles right here if they snag. A huge submarine contract. This move could save the auto industry drowning from U.S. tariffs, cranking out rides for our armed forces and even global exports. The catch is everything hinges on Hanwa winning the bid for up to 12 diesel electric subs for the Royal Canadian Navy. They're up against Germany's Thyson Krep Marine Systems after both got asked to beef up their march proposals. Expect a winner by June. Auto leaders are hyped, saying plants are down 30% this year from tariffs, but this could pump new life into factories and create thousands. Of jobs. Association head Flavio Volpi calls it, like firing up a full auto assembly plant with defense work offering steady gigs through long-term maintenance, contracts. Enter, Project Arrow Defense, a consortium that's 51% Canadian-owned with a Canadian CEO.

1:00They build five Hanwa vehicles like the K-9 Thunder Howitzer and others worth $10 billion over two years. Government folks see it as a smart play to spark jobs in hard-hit sectors while analysts praise the fierce competition driving top bids. That sub-deal alone could top $120 billion over 30 years or more, locking in a secure future for Canadian workers. This has been Canada News Today, powered by AI, I'm Corey with The Story.