Chinese manufacturer Tenglong Auto Parts plans to invest 6 Mln euros (over 60 Mln MAD ) to set up a subsidiary in Morocco, having already established international production bases in Poland and Malaysia.
The new Moroccan unit, approved by Tenglong’s Board of Directors, will focus on the production of aluminum tubes for automotive air conditioning, air conditioning hose assemblies, and connecting hoses for heat exchange systems.
Tenglong also announced that it will create a joint venture with Zhongshan Qingniu Refrigeration Technology and Chuzhou Jiaze Electric Appliance. The new company will study, develop, manufacture, and sell automotive items such as refrigerators, according to the announcement.
The joint venture is said to have a registered capital of CNY20 Mln (2.8 Mln dollars), with Tenglong investing CNY11 Mln (1.5 Mln dollars), according to the business.
Tenglong began mass manufacturing and distributing integrated valve modules to Volkswagen Group Europe in September last year.
Founded in 1997, Tenglong specializes in the research, development, manufacture, and sale of automotive parts. The company’s areas of work include heat exchange pipes, air conditioning pipes, and accessories among others. Their customer base includes BMW, Mercedes-Benz, Great Wall Motor, Chery Automobile, SAIC Motor and Li Auto.