Chinese Battery Maker to Open $280 Million Lithium Factory in Morocco

According to the Chinese media Yicai, this establishment required an investment of 280 million dollars. But Morocco is not the only country targeted by the company, which already has plans to build another site in the United States.

The Chinese company intends to take advantage of Morocco’s abundant phosphate resources. "The construction of a factory in this North African country will also help the company to better serve and explore the European market," the company’s press release points out.

Guangzhou Tinci Materials Technology has doubled its turnover in one year, bringing it to $3.1 billion in 2022.