Xin Hongye Announces $34 Million Joint Venture in Morocco with French Partner ACOME

Chinese cable manufacturer Xin Hongye Wire & Cable Technology has announced plans to establish a joint venture in Morocco with French automotive cabling specialist ACOME Automotive. The Shenzhen-listed company will invest up to $34 million USD (340 million MAD) in the project.

The project will be structured in two stages: Xin Hongye will first establish a wholly-owned subsidiary in Hong Kong, which will then partner with ACOME Automotive to form a joint venture company in Morocco. The planned Moroccan JV, to be named Morocco ACOME Xinhongye Automotive Cables Co., Ltd., will be located in the Tangier region and will have registered capital of 10 million euros. Xin Hongye will hold 80% of the joint venture through its Hong Kong subsidiary, while ACOME will hold the remaining 20%.

The facility will focus on the research, manufacturing, and sale of wires, cables, wiring harnesses, plugs, connectors, and related metal products. The scope also includes warehousing, logistics, and supply chain management services. The project is part of Xin Hongye's international expansion strategy to better serve overseas markets and strengthen its global presence.

Xin Hongye and ACOME are already partners in China. In October 2024, they established Jiangsu Xin'aike Technology with 50 million yuan in capital, each holding exactly 50%. ACOME has operated a factory in Tangier since 2018. The new JV, if approved, would be the second country where the two groups operate a joint industrial structure together .

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