Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies
5 months, 2 weeks ago

Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies

Associated Press  

TANGIERS, Morocco — After the United States passed new subsidies designed to boost domestic electric vehicle production and cut into Beijing’s supply chain dominance, Chinese manufacturers began investing in an unlikely place: Morocco. “We have flexibility to be able to comply with all the changes in interpretation or rules.” The Chinese battery projects include at least three joint ventures and several that reference Morocco’s trade ties with the United States. It declined to provide details about the size of their investment but said the Morocco base means their cathodes “will be supplied to the North American market and subsidized by the U.S. Inflation Reduction Act as Morocco is a signatory to the U.S. Free Trade Agreement.” LG Chem said the venture would adjust ownership shares as necessary to comply with U.S. rules. China’s BTR Group’s announcement of a cathode factory in April noted that Morocco’s trade status with the United States and Europe would ensure “a seamless entry for the majority of its manufactured products into these regions.” Abdelmonim Amachraa, a supply chain expert who previously worked in Morocco’s Ministry of Industry and Trade, said Morocco was profiting from its “ability to coexist when a link can’t be found between China and the United States.” Officials in Morocco have publicly and privately worked to foster ties up and down the automotive supply chain in both the East and the West.

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