Morocco has entered into a deal with GOTION High-Tech, a China-based firm specialising in electric mobility, to build a dedicated facility to manufacture the production of electric car batteries and energy storage systems.
With an investment of 65 billion Moroccan dirhams ($6.4 billion), the group will construct a Giga Factory in Rabat, with an annual production capacity of 100 gigawatt-hours. It is expected to generate around 25,000 job opportunities in the region.
In a statement, Mohcine Jazouli, Moroccan Minister of Investment, said, “Signing the memorandum of understanding is a necessary first step before signing the investment agreement, which will allow the launch of the Giga Factory to strengthen the country’s position in the automotive industry.” The Moroccan ministry further expressed the ambition to collaborate with leaders in the RE and EV sector, citing the German automaker Volkswagen Group as a reference shareholder.
GOTION High-Tech already has production sites in Asia, Europe, and North America and Morocco’s automotive industry also stands out as one of the most exported sectors with a value of 111 billion dirhams. The deal is expected to be a win-win situation for the the players.
