Chinese group Lingyun Industrial has announced the construction of two automotive spare parts factories in Morocco to strengthen its presence in the European and North African markets.
The first project, with an investment of $8 million, will be dedicated to the manufacture of automotive pipes for customers such as Tesla, Volvo, Plastic Omnium Auto Inergy, Stellantis and Magna International.
The second project, with a registered capital of $13.8 million, will produce battery boxes and high-strength parts. Among the main targeted customers are Stellantis, BMW, Mercedes-Benz, Renault, Ford, Volkswagen and Tesla.
Lingyun will hold 51 percent of the joint venture, with the remainder going to Haomei New Materials.
The two factories will cooperate with Lingyun’s European units to develop the market and ensure deliveries, the group said, without revealing the total amount of the investment or the construction schedule.
The partnership with Haomei New Materials is expected to reduce costs and secure the supply of raw materials.
SL/te/fss/jn/APA