Morocco and Chinese BYD electric vehicle maker signed on Saturday an agreement to open a factory in Morocco to build battery-powered cars.
The agreement was inked in Casablanca by BYD Chairman Wang Chuanfu, Morocco's Minister for Industry and Investment Moulay Hafid El Alamy, and Financial Minister Mohamed Boussaid.
The factory will be built in the new Mohamed VI Tangier Tech City, as part of a project between China and Morocco to create a large-scale industrial hub in the northern city of Tangier.
The plant will cover an area of 50 hectares, and is expected to employ 2,500 people.
Founded in 1995, BYD currently has nearly 220,000 employees and 30 industrial parks around the world with an area of more than 18 million square meters.
