Morocco signed an investment agreement with Chinese BTR New Material Group on Friday to establish the electric vehicle cathode factory project valued at 3 billion MAD. Moroccan head of government Aziz Akhannouch chaired the signing ceremony.
This project, the first of its kind in the Moroccan electric battery ecosystem, involves the construction of a cathode production unit, a vital component of electric vehicle batteries.
Located in the Mohammed VI Tanger Tech City, Tangier, the factory will boast an annual production capacity of 50,000 tons upon completion. It will help create over 2,500 jobs.
Developed in two phases over an area of 15 hectares, the commencement of operations for the first phase with a capacity of 25,000 tons is scheduled for September 2026.
BTR announced on December 2023 that it will expand its lithium battery cathode material operations in Morocco through Bnuo International Holding PTE company.
BTR Raw Materials chairperson YouYan Huang, Minister of Economy and Finance Nadia Fettah, Minister of Economic Inclusion, Small Business, Employment and Skills Younes Sekkouri, Minister of Industry and Trade Ryad Mezzour, Minister Delegate for Investment, Convergence and Public Policies Mohcine Jazouli signed the agreement.
Ambassador of the People’s Republic of China to Morocco Changlin Li, BTR Group chairperson Xueqin He, and Managing Director of the Moroccan Agency for the Development of Investment and Exports (AMDIE) Ali Seddiki attended the signing ceremony.
BTR group is a global leader in manufacturing components for electric batteries. Its clientele includes major electric battery manufacturers such as BYD, CATL, Volkswagen, and Tesla.
“This investment in the electric mobility sector is not isolated, it is the first of several major projects to come, positioning the Kingdom as an attractive hub for the electric vehicle battery industry and an indispensable player in the production of vital components for the sector,” Jazouli said.