Canada picks Germany’s TKMS to build 12 new submarines, Globe and Mail reports

WASHINGTON, July 6 (Reuters) - Canada has picked Germany's TKMS to build 12 new ‌submarines for Canada's navy, The Globe ‌and Mail reported on Monday.

TKMS, majority-owned by German conglomerate Thyssenkrupp, is offering its 212CD class submarine model in the tender, which it is also supplying to Norway's navy under ‌a joint modernization ⁠initiative. With its diamond shape, length of around 74 metres and non-magnetic ⁠steel, TKMS hopes the 212CD will become the new NATO standard. Canadian Prime Minister Mark Carney was due to announce the preferred bidder ‌in a contract to build the submarines on Monday, the Globe and Mail reported. The announcement will be made before Carney heads to a NATO leaders' summit this ‌week in Turkey, the report said, citing sources. Canada, under pressure from the United States to increase ‌defense spending, has hit NATO's military spending target of 2% of GDP earlier than originally planned. NATO leaders have agreed to ‌spend 5% of GDP on defense and security-related investments by 2035.

(Reporting by Caroline Stauffer, Katharine Jackson)