Casablanca – Two leading Chinese companies in the automotive battery industry, HAILIANG and SHINZOOM, have announced a substantial investment totaling $910 million to establish manufacturing facilities at Mohammed VI Tanger Tech City in Morocco. The signing ceremony for these industrial projects took place on Tuesday, May 14, 2024, at the Bank of Africa headquarters in Casablanca, attended by key officials including Othman Benjelloun, President of the Tanger Tech Development Company; Fouad Brini, President of TMSA; and Omar Moro, President of the Tanger-Tetouan-Al Hoceima Region.
HAILIANG’s project will cover 30 hectares with a $450 million investment, aiming to create 1,800 job opportunities starting from 2024. HAILIANG, headquartered in Zhuji, Zhejiang Province, China, is a global leader in automotive copper parts manufacturing, boasting $30 billion in revenue in 2022 and ranked 459th in the Fortune Global 500. With 22 production sites worldwide, HAILIANG has strong partnerships with companies like Sunwoda.
SHINZOOM’s project will span 20 hectares with a $460 million investment, expected to generate around 2,000 jobs starting from 2024. SHINZOOM, a subsidiary of Hunan Zhongke Electric Co., Ltd., specializes in manufacturing positive electrodes for lithium batteries and is the third-largest producer in China, achieving approximately $1 billion in revenue in 2023. The company operates six factories in China, including partnerships with BYD.
These investments represent a significant milestone for Morocco’s automotive industry. HAILIANG’s presence marks the country’s first industrial operator in the copper sector, while SHINZOOM strengthens the production of positive electrodes. This development underscores Mohammed VI Tanger Tech City’s position as an attractive destination for global industrial companies, supporting King Mohammed VI’s vision for economic growth.
The Tanger Tech Development Company (SATT) oversees Mohammed VI Tanger Tech City, a smart and integrated industrial and residential complex covering 2,167 hectares in the Tanger region. Launched in February 2023, the city has already attracted ten major operators, with ongoing efforts to establish it as a center of innovation and opportunity in global industrial sectors.
These investments by HAILIANG and SHINZOOM affirm Morocco’s strategic focus on industrial development and economic diversification, positioning Mohammed VI Tanger Tech City as a key player in the automotive battery sector and a hub for international investment and collaboration.
