Li Changlin, China's ambassador to Morocco, claims his country's investment in the North African nation's EV and new energy sectors has "exploded." The Tangier tech hub, another project, will host hundreds of Chinese companies. In addition to bypassing duties, setting up manufacturing facilities in Morocco offers Chinese companies another benefit: tax breaks. Morocco's free-trade deal with the EU allows Chinese companies to bypass tariffs from the trade bloc. It aims to become a key player in global battery minerals production and processing transformation, with major EV battery plants already announced.

Source: The North Africa Journal August 07, 2024 02:40 UTC