Morocco to Invest $10.8 Billion in Two Massive EV Battery Plants

Ryad Mezzour announced last year the installation of battery factories, a "logical step" to move towards all-electric. At the time, the Minister of Industry had spoken of a large factory that should cost around 2 billion euros and allow 300,000 vehicles to be equipped. During a forum in Casablanca this week, Mezzour told local media that he has two projects on the table, the amounts of which amount to 10 billion euros, i.e. 6 billion for one and 4 billion for the other.

The first offer comes from the Chinese battery manufacturer CALB, which is preparing to open a large factory in Sines, Portugal and presented, during a forum in Beijing, a new high-performance battery technology that charges in just 10 minutes. The second offer is that of the Chinese battery manufacturer SVolt Energy Technology Co. A subsidiary of Great Wall Motor, a partner of BMW, the company already has two factories in Germany, one of which will start supplying Stellantis from 2025, according to Bloomberg.

In addition to the low costs and the facilities offered to attract battery manufacturers, Morocco also has some of the resources needed for battery production. The Korean company LG, the world’s second largest battery manufacturer and a partner of Stellantis in Canada, has just announced an agreement with the Chinese producer Yahua for the supply of lithium hydroxide to Morocco.