Morocco Emerges as Key Player in Electric Vehicle Battery Production

Chinese investors want to support Moroccan production of electric batteries in order to meet nearly a quarter of European demand in the short term. Last December, Morocco concluded a strategic partnership with Guchen Hi-Tech, a leader in the electric vehicle sector, for a total investment of $6.4 billion. The group plans an increase of around 123% in its production in 2024 compared to 2023, which should allow it to reach a record turnover of $3.2 billion.

BTR, a subsidiary of the Chinese group Bao’an, plans to invest nearly $490 million in Morocco. These funds will be used to set up a new factory in the Tanger Technopark, which should produce around 50,000 tons of anode material for lithium-ion batteries per year, reports Hespress. According to the projections of the Minister of Industry and Trade, Ryad Mezzour, Morocco should have a production capacity of electric vehicles of around 100,000 units per year by 2026.

Chinese companies have set their sights on Morocco due to its strategic geographical position, its good relations with Europe and the United States, and its economic potential. In addition, the Chinese Sentury Tire, one of the world’s largest tire manufacturers, also announced in October its intention to open a factory in Tangier.