First Published: 2017-12-10

Chinese electric carmaker to open Morocco factory
BYD to become third car manufacturer after Renault, Peugeot to construct cars in North African state.
Middle East Online

"We hope to benefit from Morocco's location as an entry point to Europe and the African market"

CASABLANCA - Chinese electric car manufacturer BYD on Saturday signed an agreement to open a factory near the Moroccan city of Tangiers to build battery-powered vehicles, officials said.

BYD will become the third car manufacturer, after Renault and Peugeot of French, to construct cars in the North African state.

The memorandum of understanding was signed at the royal palace in the coastal city of Casablanca in the presence of King Mohammed VI and BYD's chairman, Wang Chuanfu, whose company is backed by US investor Warren Buffett.

The factory in the new Mohammed VI Tangier Tech City, which is part of a project between China and Morocco, is to produce electric cars, buses and trucks at a 50-hectare site employing 2,500 people, according to the project directors.

A plant for the assembly of electric trains is also planned, but the amount of investment and timeframe of the overall project were not announced.

"We hope to benefit from Morocco's location as an entry point to Europe and the African market," Wang said, adding that the first phase would produce cars.

According to industry sources, Morocco aims to add a fourth major automaker plant before the end of 2021 and to have capacity to produce one million vehicles a year by 2025.

 

UN Security Council lenient to Turkey’s Syria offensive

Washington probes Hezbollah ‘narcoterrorism’

Tillerson to present US strategy on Syria to European, Arab allies

Russia pension funds may invest in Aramco IPO

Iranian woman skydiver looks to break down stereotypes

Qaeda leader calls on Muslims to attack Jews, Americans over Jerusalem

Palestinians in occupied West Bank get 3G

Turkish army clashes with Kurdish militia amid US alarm

Turkey arrests dozens accused of ‘terror propaganda’

Three French female jihadists face possible death penalty in Iraq

Women journalists protest separation during Pence visit to Jerusalem

Egypt military accuses presidential hopeful of committing crimes

Israeli minister calls to ban author praising Palestinian teen

Qatar supports Turkey’s offensive against Kurds

World powers meet on Syria chemical attacks

Morocco's king appoints five new ministers

Pence pledges US embassy move by end of 2019 on Jerusalem trip

Russia calls for diplomatic solution to Yemen conflict

Russia invites Kurds to join Syria peace process

Turkey shells Kurdish targets in northern Syria

Closer look at pro-Ankara rebels amassing around Afrin

Pence set for Palestinian snub

Abbas to ask EU to recognise Palestinian state

Saudi-led coalition to give $1.5 bln in Yemen aid

Mattis: Turkey gave US advance warning on Syria operation

Yemen releases budget for first time in three years

Saudi calls for cooperation between OPEC, non-OPEC countries

France presses Turkey to end offensive against Kurds

The changing faces of al-Qaeda in Syria

Kurdish militia fire rockets at Turkish town

Moroccans wary depreciation of dirham could raise cost of living, despite benefits

Deserted streets, terrified civilians after Turkey attacks Afrin

Iraqi, Kurdish leaders hold talks on bitter regional dispute

Russia-led Syria peace congress to be held January 30

Turkey launches new strikes on Kurdish targets in Syria

Egypt's Sisi says will stand for re-election

Pence heads to Mideast despite Muslim, Christian anger

Assad regime says Syria a 'tourist' destination

Journalists arrested while reporting Sudan protests

Aid for millions of Palestinians hostage to politics

Lebanon thwarts holiday attacks using IS informant

Mortar fire wounds 14 in Syria mental hospital

Turkish military fires on Kurdish forces in Syria's Afrin

More than 32,000 Yemenis displaced in intensified fighting

UN warns of "lost generation" in South Sudan's grinding conflict