By Alexandra Krauska
Rabat – Yangtse Automobile, a Chinese electric car company, announced last week that it would invest 1 MAD billion in Morocco. The company plans to build a factory in Tangier, specializing in electric cars and buses to be made available for sale domestically and abroad.
Construction of the factory will begin soon, and that the factory will create about 2,000 jobs, according to the HuffPost Maroc.
The company selected Tangier because of its strategic location close to Europe, the Middle East, and Africa, its skilled workforce in the automotive industry, and the supply of investment facilities, said Ilyas El Omari, President of the region Tangier-Tetouan- Al-Hoceima.
El Omari, who is also head of the Party of Authenticity and Modernity, said that this investment is “an opportunity to allow Chinese economic actors to learn about the economic potential of the area and the facilities Morocco offer to foreign investors. This will also further strengthen the partnership between the two countries in the commercial and industrial areas.”
