vehicle production

Hanhwa Aerospace Signs MOU with Canadian APMA for Military Vehicle Production

Hanhwa Aerospace has signed an MOU with Canada's Automotive Parts Manufacturers' Association to establish a joint venture for producing non-commercial industrial and military vehicles. The deal with Hanwha Ocean is conditional on the shipbuilder being selected for Canada's Canadian Patrol Submarine Project, worth about 60 trillion won ($40.6 billion) for up to 12 diesel-electric submarines. Hanwha competes against Germany's Thyssenkrupp Marine Systems for the project.