Morocco Secures $6.5 Billion Deal for Major Electric Vehicle Battery Plant

The memorandum of understanding was signed on Wednesday in Marrakech, under the chairmanship of the Head of Government, Aziz Akhannouch. The Sino-European group Gotion High-Tech, a leader in the electric mobility sector, has chosen Morocco, "the leader of the automotive industry in Africa" to host this project which would allow the production of batteries for a capacity of 100 GWh/year in the commune of Bouknadel located in the Rabat-Salé-Kénitra region.

"This memorandum is a necessary first step, prior to the signing of an investment agreement, which should allow the launch of a Gigafactory capable of strengthening the position of a leading player in the automotive industry of the Kingdom," said the Delegate Minister in charge of Investment, Convergence and Evaluation of Public Policies. Gotion High-Tech, for its part, "is eager to contribute to the global development of green mobility solutions and is pleased to cooperate with Morocco on this project," said its chairman, Li Zhen.

Present in Asia, Europe and North America, Gotion High-Tech achieved a turnover of 8.638 billion euros in 2022. The leader in the electric battery sector has nearly 20,000 employees worldwide. Its Gigafactory project in Morocco is expected to generate more than 25,000 jobs, according to the Moroccan Agency for Investment and Export Development (AMDIE) in a press release.