Korean govt, Hyundai Motor officials head to Canada for $41 bn submarine deal tied to auto investment

https://www.kedglobal.com/business-politics/newsView/ked202601080006

26 Comments

  1. Hyundai Motors and the Submarines is a Grand bargain, if we can secure Germany as well, we are no longer a middle power.

  2. snowfordessert on

    My next car will be an EV5 if they make this happen.

    We should also ask to be part of Korea’s indigenous 24,000 lbf wet thrust engine development program and tell them we can expedite the project, while showing interest in the KF-21 Block 3 platform when we have the upper hand in the negotiations.

  3. restorativemarsh on

    Honestly give it to them if they’re willing to build a Hyundai plant here. They’re showing enough commitment to a long term partnership if that goes through.

    The KSS III already has superior delivery times and defense capabilities, and is a proven platform.

  4. GirlCoveredInBlood on

    So we’ll ask for auto investment as part of the package, they’ll raise the price as the package is now bigger, and we’ll be using military spending to prop up the auto industry?

  5. commentinator on

    Uhh why are we buying a billion dollar submarine? They are not really defensive weapons.

  6. Crazy-Cook2035 on

    Regardless of people’s political affiliations you have to admit it is nice to see this level of development for our economy

  7. Particular-Bug-7442 on

    If they bring the i30N to Canada, I will vote for the LPC until the end of time.

  8. Thank god we have actual experts in the government.

    If we have r/Canada running the government, we’ll be giving up out auto sector for “cheap Chinese EVs”.

  9. pleasehurtdoll on

    In 2025 they sold 146,000 cars here and 901k in the US, so we’re only 13% of the combined market. so it doesn’t seem likely that they would commit to making cars here until the trade situation with the USA is stabilized.

    The just built a second plant in the USA to give them about 600k capacity, so a third N. American factory is realistic if we are still integrated with the USA market. Both plants are reactions to prior Trump tariffs. But if there’s no firm trade deal for autos and parts with the USA in the next year I think it’s unlikely they are making a modern factory for just 150k customers. They have other plants in the that are exporting cars and the idea that we can compete with brazil, india, Czech, Turkey etc. on labor costs doesn’t seem realistic.

  10. The only ice the Koreans have to worry about is the one on the ground; but it’s winter right now in Canada. And the only shots fired to their face will be friendly snowball fight after the deal is signed.

  11. We are prob going to go with Germany for European partnerships and nato interoperability. That and Germany has historically invested more in Canada than South Korea. I.e vw battery plant …

  12. Periodically_Right on

    People in here keep going on about what the government should do and which sub we should buy. Either sub is a solid purchase. As long as we get something back in the form of jobs this is a win.

  13. And then some random people in Alberta would call Immigration Canada for immigration checks. /s

    Definitely a good call. They’re the third-largest car maker in the world, and I wouldn’t be surprised if they surpass VW in the near future.

  14. Osiris-Amun-Ra on

    Tying a nations defence contract between two nations – to a single foreign corporation – shows the extent and power of the military industrial complex.
    However, given it’s the Liberals negotiating, this will almost certainly be a Stellantis 2.0 boondoggle.

  15. I guess if they are okay with selling just the canadian market. Lots of the auto plants well mostly to the usa

  16. The anti Carney crowd hates this one simple trick: having an educated and intelligent businessman as the leader of our country

  17. You know I’ve been eyeing the latest Hyundai EVs for a bit. If they are for real about opening a Canadian Hyundai plant, this will buy them a first time Korean auto customer right here.