Anduril, US Navy invest $6.6 billion to boost submarine parts production

Defense tech firm Anduril said on Tuesday it will invest $3.7 billion to develop a new shipyard in Maryland to build critical components for the US Navy’s Virginia-class submarines, as Washington seeks to bolster its maritime defense capabilities. Subsequently, the US Navy awarded Anduril a contract worth up to $2.9 billion to manufacture submarine components, with payments tied directly to production outcomes and the company assuming most of the execution risk, the defense startup said. The investment and associated contract, together valued at up to $6.6 billion, come amid a broader push by…