Rédaction Africa Links 24 with alm
Published on 2024-03-29 12:57:08
Electric Mobility: Morocco continues to attract foreign investments in the field of electric vehicles. In this regard, the investment agreement ceremony for the strategic project of BTR New Material Group was held in Rabat on Friday, March 29, chaired by the Head of Government Mr. Aziz Akhannouch. The project entails the construction of a cathode production unit, an essential component of electric vehicle batteries, with an investment amount of 3 billion dirhams and the creation of over 2,500 jobs.
This significant project, the first of its kind in the Moroccan electric battery ecosystem for which an agreement is signed, involves the establishment of a factory with a capacity of 50,000 tons per year within the Mohammed VI Tanger Tech City. Developed in 2 phases over an area of 15 hectares, the start of operations for the first phase with a capacity of 25,000 tons is scheduled for September 2026.
The project, which is already underway, is led by the Chinese group BTR, one of the world’s leading manufacturers of components for electric batteries. Its clients include major electric battery manufacturers such as BYD, CATL, Volkswagen, and Tesla.
Under the leadership of His Majesty King Mohammed VI, may God assist him, Morocco has become a significant regional leader in the automotive industry. The choice of the Kingdom for the implementation of this project reflects the renewed confidence of international investors in the “Morocco destination,” particularly in the automotive sector, at a pivotal moment when the industry is undergoing a major transformation globally towards electric vehicles.
This project also represents a major advancement in BTR Group’s international development strategy and demonstrates the quality of cooperation and friendship between the Kingdom of Morocco and the People’s Republic of China.
Mr. Jazouli, Minister of Investment, Convergence, and Evaluation of Public Policies, emphasized on this occasion, “This investment in the electric mobility sector is not isolated, it is the first of several large-scale projects to come, positioning the Kingdom as an attractive hub for the electric vehicle battery industry and a key player in the production of vital components for the sector’s future. Under the enlightened leadership of His Majesty King Mohammed VI, may God assist him, Morocco is determined to consolidate its position as a continental and regional hub in the automotive industry by playing a central role in this green mobility revolution.”
The investment agreement was signed by the President of BTR Raw Materials, Mr. YouYan Huang, the Minister of Economy and Finance, Mrs. Nadia Fettah, the Minister of Economic Inclusion, Small Business, Employment, and Skills, Mr. Younes Sekkouri, the Minister of Industry and Trade Mr. Ryad Mezzour, and the Minister Delegate to the Head of Government, in charge of Investment, Convergence, and Evaluation of Public Policies, Mr. Mohcine Jazouli, in the presence of the Ambassador of the People’s Republic of China in Morocco, Mr. Changlin Li, and the Chairman of BTR Group, Mr. Xueqin He, and the General Director of AMDIE, Mr. Ali Seddiki.
Read the original article(French) on Aujourdhui.ma
