Morocco attracts a new Chinese giant in electric batteries

The new site selected is located near the Stellantis plant, which reflects Gotion High-Tech’s desire to get closer to its potential customers. The Chinese group has also chosen to settle in Atlantic Free Zone in order to take advantage of the future port of Kenitra Atlantique, whose commissioning is scheduled for 2030, reports Challenge.

The German automaker Volkswagen will participate in the capital of Gotion High-Tech’s future Moroccan subsidiary to the tune of 40%. The establishment of this gigafactory should cost 65 billion dirhams, which represents the largest foreign industrial investment in Morocco after that of Renault in Tangier.

At the end of May last year, the Chinese giant had signed with the Moroccan Agency for Investment and Export Development (AMDIE) a memorandum of understanding for the construction of a factory for batteries for electric vehicles. It should be operational from the second half of 2026.

Gotion High-Tech, listed on the Shenzhen stock exchange, achieved a turnover of around 30 billion yuan (more than 40 billion dirhams) in 2023.