Written by 5:47 pm Economy

Morocco, Chinese manufacturer sign major deal for electric car battery plant

Spread the love



Morocco signed a 3 billion dirham investment agreement with Chinese BTR New Material Group to construct an industrial unit to produce electric car battery components (cathodes).

The Ministry of Investment announced the deal in a statement, highlighting that the project is expected to create 2,500 jobs.

BTR, a global leader in electric battery components and supplier to major car companies like BYD, CATL, Volkswagen, and Tesla, will build the factory.

Located in the Mohammed VI Tangier Tech Industrial City, the facility will have a production capacity of 50,000 tons per year upon completion.

Construction has already begun, and the development plan is two-phase. The first phase, targeting a 25,000-ton annual capacity, is expected to be operational by September 2026.

The Ministry emphasizes Morocco’s position as a regional leader in the automotive industry, with this project solidifying investor confidence in the country’s electric vehicle sector.

The project represents a significant step for BTR’s international expansion and strengthens relations between Morocco and China.

Mohcine Jazouli, Delegate-Minister to the Head of Government of Investment, emphasized that this is the first of many electric mobility projects planned for Morocco.

He highlighted the country’s attractiveness for electric car battery manufacturing and its commitment to becoming a continental and regional hub for the green mobility revolution under King Mohammed VI’s leadership.

Visited 1 times, 1 visit(s) today

Spread the love
Étiquettes : , , , , , , , , , Last modified: mars 29, 2024
Close Search Window
Close