Gotion allocates $2.63 billion for battery gigafactories in Morocco
Shenzhen-listed Gotion Hi-Tech has unveiled plans to construct two lithium battery manufacturing facilities in Morocco and Slovakia, with annual production capacities of 20 GWh
Thanks to its natural resources, advantageous geographical position and strategic partnerships with global players, Morocco aims to become a regional hub for sustainable technologies for Africa and Europe by investing heavily in the lithium and electric battery industry.
June 14, 2024: Chinese battery giant, Gotion, will build Morocco's first EV battery gigafactory. The Volkswagen-partnered company has signed an investment agreement with the Moroccan government to build the gigafactory for 12.8 billion dirhams ($1.3 billion) the prime minister's office confirmed on June 6.
This success of the Moroccan automotive industry provides a solid foundation for new investments in the electric battery value chain to reach 400 billion dirhams by 2030. The country is consolidating its position as a leading player in the lithium and electric battery sector through ambitious projects with Asian and European p.
The project, led by Chinese company Gotion High-Tech, will place Morocco at the heart of the global clean energy race, transforming the country into a key supplier of batteries for electric vehicles and renewable energy storage.
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