King Mohammed VI welcomes 26 investments in the automobile industry a few days after signing an agreement with China’s BYD

King Mohammed VI signed on Monday in Casablanca five documents relating to these 26 investments in the sector of the automobile industry. This launching came as the sovereign signed another agreement with the chairman of China’s BYD, on of the biggest companies in the field. The Chinese manufacturer is joining the two French companies already operating in the north of the Kingdom which is set to be an African hub for the flourishing industry.

China's BYD to build a car plant in Tangier joining the two French automotive companies

The Chinese big automotive company is building a new electric cars' factory near Tangiers joinnig the two French plants already operating in the region. The agreement to this new project was signed on Saturday by King Mohammed VI and BYD's chairman, whose company will also form part of the Mohammed VI Tangier Tech City.