Why China Is Investing So Much Money in Moroccan Factories
When Xi Jinping, China's top leader, returned from the Group of 20 summit in Brazil last November, he made a stopover in Casablanca, where he was greeted with dates and milk, the traditional welcome for honored guests, and a meeting with Crown Prince Moulay Hassan of Morocco.
The brief visit was a sign of the growing economic ties between China and Morocco, the largest automotive manufacturing hub in Africa and an increasingly crucial conduit for Chinese companies looking to get around tariffs for exports headed to Europe.
In the last couple of years, investment in Morocco from Chinese energy and electric vehicle and battery producers has exploded, with $10 billion directed to that industry, according to one estimate. Dozens of Chinese companies involved in automobile manufacturing are setting up shop in Morocco, including the battery maker Gotion High-tech.
The boom is a sign of the growing importance of countries like Morocco, which has a free-trade agreement with the European Union, that serve as connective nodes in a global trading system that is remaking itself around an obstacle course of high tariffs, trade restrictions and geopolitical rivalries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
25 minutes ago
- Bloomberg
New Push to Reframe DEI in London Shifts Away from Diversity
A new study aims to reframe the global debate surrounding diversity, equity and inclusion in the City of London by focusing less on demographics and more on hiring people with diverse experiences. The report, published on Monday by the Diversity Project — which focuses on inclusion in the UK's investment and savings industry — shows that having a wider variety of perspectives, backgrounds and skills can boost performances of investment teams.
Motor 1
29 minutes ago
- Motor 1
BMW Will Start Hiking Prices In July
Most of BMW's lineup is about to get more expensive for 2026. The automaker recently informed dealers that prices for many of its models would increase by 1.9 percent starting July 1, and customers could pay as much as $2,500 more than before on certain cars. Buyers interested in the X5M or X6M Competition , for example, will pay that $2,500 premium, according to a dealer bulletin obtained by Cars Direct . Prices for the 4 Series Coupe and Z4 will also increase by $1,100. Photo by: BMW However, the increase does not affect the pricing of BMW's electric vehicles, the M2, or the 2 Series. BMW made mid-year price changes on those two models in April, with customers paying as much as $2,750 more than before, depending on the trim. We may have gotten a glimpse of the coming price increases last week when a leaked pricing guide revealed the 2026 M3 would cost $1,700 more than before . It now starts at $79,575, and we all know everyone will pay well over that for this car. The 2026 M3 Competition is $83,775 to start. Thanks, Tariffs: No More Price Protection In March, BMW told The Wall Street Journal that it would ' price protect ' the 2 Series and 3 Series it imports into the United States. The automaker announced this as US President Donald Trump's on-again, off-again tariffs sowed confusion in the industry. A tariff on all vehicles imported into the country went into effect in April, and BMW only promised to keep prices the same through that month, and we're well past that. However, the bulletin announcing the pricing changes makes no mention of those tariffs. Instead, it says the price increases account for "inflation and enhancements to standard equipment where applicable." Photo by: BMW Automakers are still trying to navigate the current tariff situation and deploying a range of solutions to mitigate any extra costs. Volkswagen announced that it would keep prices unchanged through the end of June, while Volvo said it would likely have to pass some of those added costs on to consumers . General Motors won't raise prices for now, while Ford has had to raise the price of the Maverick that it imports from Mexico. Tariffs could even increase the cost of Hot Wheels in the United States. It's not uncommon for automakers to adjust prices going into a new model year, and a 1.9 percent increase isn't outside the norm. However, it comes at a challenging time for the industry as prices remain high for consumers. Here's More BMW News: BMW to Keep Making Z4 Because People Keep Buying Them: Report Bad News: BMW Won't Build a New Supercar Anytime Soon Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Source: Cars Direct via BMW Blog Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Bloomberg
40 minutes ago
- Bloomberg
GFL Is Said to Consider Sale of Stake in C$5 Billion Infra Arm
GFL Environmental Inc. is considering the sale of a stake in its infrastructure arm, people with knowledge of the matter said, in what could be one of Canada's largest infrastructure deals this year. The company is seeking a valuation of as much as C$5 billion ($3.7 billion) including debt for the affiliate, known as Green Infrastructure Partners Inc., the people said. The stake sale is attracting initial interest from potential investors including General Atlantic, Energy Capital Partners and Neuberger Berman, the people said.
