The Chinese company Gotion High-Tech announced an investment of 1.28 million euros in Morocco for the creation of a lithium battery manufacturing plant, in addition to complementary projects. The factory is expected to significantly strengthen Morocco’s capacity to locally produce components for electric and hybrid vehicles.
Gotion High-Tech should also invest in Slovakia for the same project. This was decided at the eleventh meeting of the Board of Directors and the meeting of the Supervisory Board held on December 11.
During these meetings, the investment proposal in the construction of a new energy battery production base in Morocco was approved. The company plans to invest its own and raised funds to build a high-performance lithium battery project with an annual capacity of 20 GWh.
Gotion High-Tech said that the construction of battery production bases in Slovakia and Morocco is based on the development prospects of the global new energy industry, to meet the needs of future business development and expansion of the business market.
The company is committed to establishing a self-sustaining local supply of power batteries, intended to cover the European Union market. This will strengthen its market share and its overall competitiveness, while allowing it to better satisfy its customers and expand its international presence, thus contributing to the acceleration of its internationalization process.
This project is in line with Morocco’s strategy aimed at consolidating its leading position in the sectors of renewable energies and the manufacturing of vehicles, particularly electric vehicles.
The well-developed automotive ecosystem in Morocco, including the production sites of Renault and Stellantis, offers a solid basis for this initiative and for other investors who are interested not only in professionalism, skilled labor, but also by the advantages offered by the Moroccan authorities, including its geographical positioning which makes it a hub for world trade.
Furthermore, Morocco’s geographical proximity to Europe, as well as its free trade agreements with the EU and the United States, make it a privileged location for the export of batteries for electric vehicles.
Morocco
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