Zhejiang Asia-Pacific Mechanical & Electronic Co., Ltd (APG), a leading Chinese manufacturer of automotive braking and control systems, has announced plans to invest $70 million in a new factory in Tanger, Morocco.
APG, which counts major automakers such as Volkswagen, General Motors, and Honda among its clients, will establish a subsidiary in Singapore to facilitate this investment. The Singapore-based subsidiary will initially finance $8 million, with the remaining capital to be raised locally.
The new Moroccan facility, provisionally named APG Maroc LLC, will focus on the import, export, research, development, and production of various automotive systems.
Zhejiang Asia-Pacific’s choice of Tanger is strategic. In recent years, Morocco has emerged as a significant player in the global automotive industry, benefiting from substantial advancements and a strategic geographic position. Located at the crossroads of Africa and Europe, Morocco has free trade agreements with both Europe and the United States, making it an ideal hub for the export of vehicles and automotive components.
Listed on the Shenzhen Stock Exchange, Zhejiang Asia-Pacific Mechanical & Electronic is renowned for its research, development, production, and sales of automotive braking systems, intelligent electronic control systems, wheel hub motors, and wire-controlled chassis. The investment in Tanger not only expands its global footprint but also underscores its commitment to innovation in the automotive sector.
