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Canada buys new submarines from Germany

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Canada needs new U-Boote. The old ships often break. The company TKMS builds the new boats. Canada wants to buy 12 U-Boote. The order costs 61 billion Euro. This is very much money. The company from Deutschland wins a competition. A company from South Korea loses. The country Norwegen helps build the ships.

Mark Carney is the leader of Kanada. He announces the news on Monday. Then he goes to a meeting of the Nato. The Nato is a group for safety. Deutschland and Kanada work together. The work lasts for many years. TKMS invests in new things. They build batteries for cars. They also build künstliche Intelligenz.

The price for company shares grows fast. The growth is 11 percent. But the deal is not ready yet. Talks take a long time. Maybe the talks take many years. The new U-Boote have the name 212-CD. Norwegen buys these boats too. Tech companies earn much money today.

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Definitions

U-Boot
A U-Boot is a ship. It drives under the water.
Künstliche Intelligenz
Künstliche Intelligenz means: Computers solve hard tasks. People do not help.
Nato
The Nato is a group of many countries. They help each other.

People

Mark Carney
Mark Carney is the leader of the government in Kanada.
Oliver Burkhard
Oliver Burkhard is the boss of the company TKMS.

Locations

Kanada
Kanada is a big country in North America.
Norwegen
Norwegen is a country in the north of Europe.
Deutschland
Deutschland is a country in the middle of Europe.

Sources

Logo FAZ
FAZ

Business-Liveticker: TKMS erhält offenbar Mega-U-Boot-Auftrag aus Kanada | FAZ

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Logo Bild
Bild

Medienbericht: Mega-Deal! Kanada kauft deutsche U-Boote für 61 Mrd. Euro

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Logo Spiegel
Spiegel

TKMS: Thyssenkrupp-Tochter laut Bericht Favorit für U-Boot-Deal in Kanada

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Logo The Guardian
The Guardian

Canada buys 12 hi-tech German-Norwegian submarines after bidding war

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