July 21, 2024

Taylor Daily Press

Complete News World

Morocco becomes a leader in electric batteries

Morocco becomes a leader in electric batteries

The factory, which will be built by Chinese company Gotion High-Tech, will be the first “megafactory” of its kind in Morocco and will provide a major boost to the Kingdom’s green mobility ambitions.

Read also: Morocco welcomes the first gigafactory in the Middle East and Africa

The total value of investments in the project amounts to 65 billion dirhams, making it the largest foreign industrial investment in Morocco after Renault’s investment in Tangier. German car manufacturer Volkswagen will participate 40% in the capital of the future Moroccan company Guthéon Hi-Tech. Moroccan investors, including CNGR, also played an important role in establishing the plant.

Gotion High-Tech chose to locate its headquarters in Morocco due to several factors, including the country’s stability, young population, good infrastructure and the emergence of renewable energy sources. The factory is expected to create 17,000 direct, indirect and derivative job opportunities, and will also help maintain 220,000 existing job opportunities in the sector.

It is expected that the construction of the giant factory will be completed within 24 months, and that it will begin operation in the third quarter of 2026. In the first phase, the factory’s capacity will reach 20 gigawatt hours, with the possibility of expanding it in the future up to 100 gigawatt hours. The factory will focus on producing LFP (lithium iron phosphate) batteries, which are a cheaper and more environmentally friendly option than traditional lithium-ion batteries.

Read also: Electric cars: Morocco is a pioneer in Africa…and Europe?

The arrival of the huge factory represents an important step for Morocco on the path towards a sustainable future. The plant will not only contribute to the development of the local economy, but will also position the country as a major player in the global transition to electric mobility.

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