Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies
Associated Press
TANGIERS, Morocco (AP) — Investment in electric vehicle manufacturing is booming in Morocco, a country that neighbors Europe and enjoys a free trade agreement with the United States. That’s partially because Chinese firms see it as a side door to access the U.S. market and new Biden administration subsidies designed to shut them out. At least seven have struck deals to manufacture components in Morocco, with some touting their plans as a way to qualify for the subsidies. The phenomenon reflects the challenges facing the Biden administration as it attempts to simultaneously achieve its climate goals and shut China out of U.S. markets.
