UK, Australia and the U.S. plan to build a new submarine fleet. The project is part of an effort to counter China's growing naval might in the region. The new submarine would cost more than US$3.5 billion, which is more than 10% of Australia's annual defense budget.
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The Guardian
Aukus announce development of nuclear powered submarine 'SSN Aukus' – video
‘Rotational forces’ of US and UK nuclear-powered submarines set to visit Australia from 2027 as part of landmark agreement
AUKUS: Biden announces nuclear-powered submarines for Australia
President Joe Biden and the leaders of Australia and the United Kingdom on Monday announced that Australia will purchase nuclear-powered attack submarines from the US to modernise its fleet amid growing concern about China’s influence in the Indo-Pacific.
Australia is about to begin one of its biggest and most important military challenges since World War II and new key details have been confirmed regarding the delivery and timeline of the AUKUS program.
US, Australia and UK enter Aukus nuclear submarine alliance to counter Chinese military ambitions
The three countries have signed a partnership agreement to produce nuclear-powered submarines. This makes official a preliminary agreement announced in 2021.