Germany’s TKMS Seeks Investment Package to Woo Canada Over $12 billion Submarine Tender

German warship builder TKMS is in talks with companies in Germany and Norway to offer Canada a large investment package as part of its bid to supply new submarines to the Canadian navy. The proposal goes beyond submarines and could include investments in areas like rare earths, mining, artificial intelligence, and battery production. TKMS is competing with South Korea’s Hanwha Ocean to win a contract that could be worth over €10 billion. Canada is expected to decide on the submarine deal in 2026, with economic benefits playing a key role in the decision.