Inicio EV Moroccan Minister Anticipates Increased Investments in EV Batteries – Times of India

Moroccan Minister Anticipates Increased Investments in EV Batteries – Times of India

Moroccan Minister Anticipates Increased Investments in EV Batteries - Times of India

Morocco‘s Industry and Trade Minister, Ryad Mezzour, has revealed ongoing discussions aimed at attracting more electric battery manufacturers to the country. The move aligns with Morocco’s efforts to accommodate the rising demand for electric vehicles within its burgeoning automotive sector. In 2023, the automotive industry stood out as Morocco’s top industrial export, totaling $14 billion—a 27% increase from previous figures.
With production plants from major players like Stellantis and Renault boasting a combined annual capacity of 700,000 cars and a network of local suppliers, Morocco has established itself as a significant automotive hub.Recently, the Moroccan government approved plans for Chinese electric battery manufacturer BTR New Material Group to construct a factory near Tangier, focusing on producing crucial cathode components.
Mezzour highlighted this development as the first memorandum of understanding transformed into an investment agreement. Additionally, CNGR Advanced Material, another Chinese manufacturer, is set to establish a cathode plant in Jorf Lasfar, indicating the government’s commitment to fostering electric battery industries.
Moreover, discussions with China’s Gotion regarding the establishment of an electric vehicle battery plant in Morocco, with a potential investment of up to $6.3 billion, are progressing positively, according to Mezzour. He referred to this project as a potential gigafactory, emphasizing the significant scale of battery production.
Mezzour also disclosed ongoing negotiations with five other manufacturers for similar plant setups. While investing in batteries is seen as a crucial step in preparing the automotive sector for electric mobility, Mezzour highlighted future plans to focus on car platforms and electro-motors.
Looking ahead, Mezzour outlined ambitious targets, aiming for electric vehicles manufactured in Morocco to constitute up to 60% of exported cars by 2030, anticipating the EU’s ban on fossil-fuel cars by 2035. Stellantis and Renault are also expanding their electric vehicle production capacities in Morocco, with plans to produce 50,000 supermini electric cars and 120,000 hybrid versions of the Dacia Jogger annually, respectively.
Mezzour emphasized the country’s progressive shift in the value chain, aiming for competitiveness and integration to cater to diverse markets effectively.