Economy & BusinessChina chooses Morocco for its electric industrial vehicles

China chooses Morocco for its electric industrial vehicles

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The Chinese group Greenland Technologies Holding Corporation, which specializes in the manufacture of electric industrial vehicles, has just signed an exclusive distribution agreement with the Moroccan authorities. The Asian giant is thus targeting the Moroccan market before gradually establishing itself in Africa.

The distribution agreement to access the Moroccan market is for a minimum potential market value of $5 million (nearly 46 million dirhams) and $8.4 million (78 million dirhams), Greenland said in a statement. According to this document, Elive Maroc, a partner of Greenland in Morocco, is the exclusive distributor of the Chinese group’s electric industrial vehicles in the kingdom.

Access to the Moroccan market “plants the flag of Greenland Technologies in Africa, a continent on which we plan to develop as we expand our product range of electric industrial vehicles”, assures Raymond Wang, CEO of Greenland , quoted by the press release. The Chinese giant chose Morocco for this first establishment in Africa because of the “advantages” of the Moroccan market which, according to the company, is ready for the electrification of industrial vehicles.

In addition, Morocco has made a commitment to the United Nations to reach a target of 80% use of renewable energy by 2050, recalls the boss of Greeland, adding that electricity costs in Morocco are relatively low. low (0.116 dollars per kWh) compared to those of diesel. “We couldn’t have structured a better deal and we hope it will serve as a model to accelerate our sales growth around the world,” he concludes.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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