Under the distribution agreement, Greenland’s partner company, Elive Maroc SARL AU, holds the exclusive right to market and sell Greenland’s industrial electric vehicles.
The Chinese group Greenland Technologies Holding Corporation, announced the signing of a distribution agreement with a potential minimum value of 5 to 8.4 million dollars to sell its industrial electric vehicles in Morocco.
Greenland Technologies Holding Corporation, a Chinese global manufacturer of industrial electric vehicles, has signed an agreement to access the Moroccan market. Under the distribution agreement, Greenland’s partner company, Elive Maroc SARL AU, has the exclusive right to market and sell Greenland’s industrial electric vehicles, the company said in a press release.
The company said the Moroccan market is ready for electrification, largely thanks to the low electricity price of $0.116/kWh. The positive outlook for the Moroccan market is also supported by the country’s commitment to achieving the UN’s goal of 80% green energy by 2050, the press release adds.
According to Raymond Wang, CEO of Greenland, access to the Moroccan market is a first step in the company’s strategy to establish a solid foothold in Africa. The press release suggests that Greenland Technologies is capitalizing on Morocco’s reputation as a gateway to Africa to partner with well-established local companies with a track record of sales to expand its own production line and reach as many African countries as possible.
Morocco is in the process of consolidating its position as a gateway to Africa. As cited above and under the agreement, the Company’s distribution partner, Elive Maroc SARL AU will have the exclusive right to market and sell Greenland’s industrial electric vehicles in Morocco.
“This will include Greenland’s GEF-series lithium-electric forklifts, its GEL-series lithium-electric front loaders and its GEX-series lithium-electric excavators,” Greenland details. “With 53 other countries in Africa, we have many growth opportunities ahead of us,” explained Raymond Wang.
Today, all companies established in Morocco seek to firmly establish themselves on the continent through Moroccan subsidiaries or partnerships with existing companies.