(JW Insights) Apr 27 -- Chinese and Moroccan companies have huge cooperation potential in electric vehicles, which is in line with Morocco's decarbonization strategy and Chinese automakers' outbound plans, said Mohcine Jazouli, Morocco's minister delegate to the head of government in charge of investment, convergence and the evaluation of public policies in a China Daily report published on April 27.

As understood by Jazouli, Chinese automakers, especially EV manufacturers, have met with multiple challenges on the supply chain side, which is complicated by pandemic impacts, geopolitical tensions in Ukraine, labor shortages, and soaring energy prices, said the China Daily report.

Against that backdrop, Chinese EV makers have to make a good choice for their next production location. Morocco can serve as a solution by providing the necessary skills and help in reducing energy prices by supplying cheap green electricity.

While already being an "international auto-supply base and having auto-market access and political willingness of doing business together,” Morocco's mining resources offer great opportunities for Chinese EV makers, said Jazouli.

"Morocco has the largest phosphate reserves in the world, as well as cobalt, manganese and copper, which our country intends to value for EV manufacturing. All in all, this makes a great value proposition for Chinese EV players willing to go international," he said.

As calculated by the Moroccan Investment and Export Development Agency, the automotive industry is Morocco's top exporting sector with its annual export turnover exceeding $10 billion as early as 2019. Morocco has therefore grown into the largest non-EU car exporter to the European market, said the China Daily report.

(Li PP)