The South Korean company vying to win the contract to build Canada’s next submarine fleet is promising, if selected, to build industrial and military vehicles in this country with Canadian auto parts and workers, sources say.

Hanhwa is announcing a joint venture Wednesday with Canada’s Automotive Parts Manufacturers’ Association (APMA) to build a new entity that would produce the promised vehicles, according to two sources familiar with the matter.

The Globe and Mail is not identifying the sources because they were not authorized to discuss the joint venture publicly.

The pledge by Hanwha Oceans is an effort to sweeten its bid for the submarine contract. Revised bids are due Wednesday after the Canadian government recently extended the bidding process to prompt bidders to enrich their offers.