The Moroccan government has approved the construction of a new factory near Tangier by Chinese electric battery maker BTR New Material Group. Set to cost $300 million,
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AI Customer ServiceThorsten Lahrs, President of Europe for Chinese electric vehicle battery manufacturer CNGR, has shed light on why the company chose Morocco to establish an industrial base as part of its
AI Customer ServiceMajor Investment in Morocco BTR New Material Group, part of China Baoan Group, is set to invest a significant amount, approximately USD 497 million, to establish a new lithium battery cathode material factory in Morocco.
Morocco is also home to 70 percent of the world’s reserves of phosphate, a key material in the cheaper, lower-range batteries produced primarily by Chinese companies.
Morocco presents a strategic choice for the plant, given its comprehensive industry chain for lithium-ion raw materials, including notable reserves of cobalt and phosphate. The North African country holds a dominant share of the world’s phosphate reserves, a critical component for battery production.
Morocco: A Magnet for Chinese Battery Giants Morocco, emerging as a hub for electric vehicle battery production, experiences heightened interest from Chinese industrial giants.
Rabat - Thorsten Lahrs, President of Europe for Chinese electric vehicle battery manufacturer CNGR, has shed light on why the company chose Morocco to establish an industrial base as part of its partnership with Moroccan private investment fund Al Mada.
Kevin Shang, senior battery analyst at energy consultancy Wood Mackenzie, told AGBI that saturation in the Chinese market will also drive more of its battery manufacturers to consider investing in Morocco. “In the next few years, battery supply will start outstripping demand in the Chinese market,” said Shang.
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