Guizhou Tyre to invest $298.7 million in Moroccan tire factory

Chinese manufacturer Guizhou Tyre has completed domestic approval processes in China for a $298.7 million tire factory in Morocco. The project is slated for construction at Mohammed VI Tanger Tech City near Tangier.

The planned facility will produce up to six million passenger-vehicle radial tires annually. Guizhou Tyre expects construction to take approximately two years, with company projections estimating average annual sales of roughly $182.5 million and pre-tax profits of about $40.9 million once the plant reaches normal operations.

This investment marks Guizhou Tyre’s second manufacturing base outside of China, following an existing facility in Vietnam. The move leverages Morocco’s established automotive manufacturing cluster and its proximity to European and African markets via the Tanger Med port.

This development follows other significant Chinese investments in the Moroccan automotive and electric-vehicle sectors, such as Gotion High-Tech’s electric-vehicle battery gigafactory project, which recently received a €100 million loan from the African Development Bank.