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Ottawa, South Korea in Talks to Bring Auto Manufacturing to Canada: Sources

This week Ottawa and Seoul signed a memorandum of understanding to bring South Korean auto manufacturing and investment to Canada, with the ceremony taking place Tuesday during a South Korean government delegation visit.
The MOU grew out of South Korea's campaign to win a multibillion-dollar contract to build up to 12 submarines for the Royal Canadian Navy, while Ottawa asked South Korea and Germany to facilitate auto-industry production pledges.
The non-binding MOU pledges both countries to promote auto, electric vehicle, battery and hydrogen-powered vehicle manufacturing and to establish the Korea-Canada Industrial Cooperation Committee, including cooperation on battery manufacturing and supply chain, critical mineral extraction, research and development, plus artificial intelligence, steel, cement, nuclear and LNG.
Existing industry activity suggests the MOU builds on LG Corp.'s EV supply-chain investments and Volkswagen/PowerCo's St. Thomas battery factory, while Canada seeks a Hyundai production commitment.
The wider context is a high-stakes submarine contest, linking Hanwha Group's KSS-III Batch-II and ThyssenKrupp Marine Systems' 212CD, expected to last more than 50 years.

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Ottawa, South Korea in talks to bring auto manufacturing to Canada: sources

Canada has signed a memorandum of understanding with South Korea that includes discussions to bring auto manufacturing to Canada, two sources told CTV News.

10 hours ago·Canada

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