Morocco signs a huge $6.4 billion agreement with Gotion High Tech to manufacture car batteries

المغرب يُوقع اتفاقية ضخمة مع شركة gotion high tech بقيمة 6.4 مليار دولار لصناعة بطاريات السيارات

The Sino-European group Gotion High Tech will invest 6.500 billion centimes (6.4 billion dollars) in Morocco in the first giant factory to produce electric car batteries and energy storage systems in Africa. The project will create 25,000 jobs.

The Sino-European group Gotion High Tech, a leader in the electric mobility sector, is considering creating an industrial ecosystem for the production of batteries for electric vehicles and energy storage systems in Morocco, which requires investments estimated at 65 billion dirhams to create more than 25,000 jobs. To study its investment project, Gotion High Tech chose Morocco, which has established itself as a leading country in the automotive industry in Africa.

The Head of Government, Aziz Akhannouch, chaired Wednesday, May 31 in Marrakech, the signing ceremony of a memorandum of understanding between the Moroccan state and the Gotion high-tech group, to define the parameters of a gigantic factory (GIGAFACTORY) and its integrated ecosystem in Morocco. The memorandum was signed by Mr. Mohcine El Jazouli, Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies, and representatives of the Gotion High-Tech Group. The investment will enable the Gotion High-Tech Group to implement complete battery production solutions with a capacity that can eventually reach 100 GWh/year, and will be based in the Rabat-Salé-Kenitra region, in the city of Bouknadel.

Through this partnership, the Kingdom plans to join forces with a major player in the renewable energy and electric mobility sector, of which the reference shareholder is the Volkswagen Group. In this regard, the Minister Plenipotentiary responsible for investment, convergence and public policy evaluation indicated that “this memorandum is a necessary first step, before signing the investment agreement, which should allow the launch of a huge factory capable of establishing the Kingdom’s position as a pioneer in the automotive industry.”

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