Chinese Investment of $66 Million: Jiangsu Yunyi Electric to Build New Factory in Morocco to Boost Auto Industry
Jiangsu Yunyi Electric, a Chinese company specializing in automotive parts supply, has announced a plan to establish a new factory in Morocco with an investment of $66 million, equivalent to over 609 million dirhams.
In a statement, the company, which produces and sells electronic components for vehicles, indicated that its board of directors approved the factory’s construction, deeming the establishment of a wholly-owned subsidiary in Morocco a crucial step to enhance the company’s global presence.
According to Ecofin agency, the company, founded in September 2001, primarily focuses on the production of generator components, semiconductors, and nitrogen and oxygen sensors.
The statement highlighted that the new factory will enable the company to build a robust production base, improve its overseas operations, and enhance global delivery capabilities while supporting sustainable development and high quality in line with shareholder interests.
The company also revealed its commitment to fully leverage local resources and deepen industrial integration through cross-border collaboration.
