The recent wave of Chinese companies in the Moroccan automobile sector continues.
Following in the footsteps of: BYD the giant in electric car manufacturing (three factories near Tangier), and International Services Industrie, automated parts specialist, and Chongqing Regal Automotive Parts, gear boxes manufacturer (with a Moroccan subsidiary in the Atlantic Free Zone, Kenitra), Nanjing Aotecar New Energy Technology (NANET) is set to lay its first stone in this Free Trade Zone to support the launch of the PSA factory in the capital of the Gharb region of Morocco.
This Chinese car part manufacturer, specialized in components for cooling systems and for cars, has just created Aotecar Morocco New Energy Technology Co. This is a 100% subsidiary that has the objective of creating a manufacturing facility for air conditioning compressors. With an initial capital of 10 million MAD, this is the first African arm for the NANET Group. In the medium term, the company plans to invest 110 million MAD and expects to begin by hiring over 50 employees.
Adding to the effect of Peugeot who has been the prime cause for the arrival of many of the car part manufacturers currently on site in Kenitra or in the process of doing so, Aotecar Morocco plans to develop its own automobile cluster. It expects to attract fellow big names in the Chinese industry like BYD (currently in the process of establishing a site at Cité Mohammed VI Tanger Tech) one of its main clients internationally.
Let’s remember that the NANET group, based in Nanjing (capital of Jiangsu province in the west of China) was only created in 2000. In less than 20 years, this car part manufacture has become one of the main international players in cooling systems with a consolidated turnover of more than 9 billion MAD (2017), over 7,000 employees around the world and market capitalization of 16 billion MAD.
Source : Challenge.ma