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.
Critics say the rules are a giveaway to China and will extend its EV dominance. The Biden administration says the rules pave the way for billions in investment in EV manufacturing in the United States. That includes CNGR, one of China’s largest battery cathode producers, which in September announced a $2-billion plan to build what it called a “base in the world and pan-Atlantic region” in a joint venture with the Moroccan royal family’s investment group, Al Mada.
The largest among them is Chinese-German battery-maker Gotion High-Tech, which signed a deal with Morocco last year for $6.4-billion investment to construct Africa’s first electric vehicle battery factory. As the world transitions to electric vehicles, Morocco may appear to be a surprising beneficiary as China, the United States and Europe compete for market share. But its officials worry that anti-competitive policies like tariffs and subsidies could ultimately make it more difficult to lure investment.
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