Morocco attracts huge Chinese investments to make electric car batteries

This article was automatically translated from HIBAPRESS, the Arabic version:

This article was automatically translated from HIBAPRESS, the Arabic version:

Heba Press

The Chinese company Guoxuan High-Tech Co. has unveiled its project to establish in Morocco an industrial unit specializing in the production of high-performance lithium batteries, with an annual production capacity of up to 20 gigawatts per hour.

Chinese media explained on Friday that the construction of this industrial unit would take around five years.

According to a press release issued by the company, Goshuan Hi-Tech plans to finance the new project from its own funds, with the total investment cost set at approximately 1.28 billion euros.

The project aims to support the production of lithium batteries to promote large projects in Morocco, in line with the growing demand for this technology.

The same sources added that this investment is part of the company’s overall strategy to strengthen its international reach and continue its expansion in the energy battery markets, thereby increasing its market share and competitiveness.

Despite the importance of the project, the company indicated that there are potential challenges that could affect the progress of the implementation, such as financing, operational and management issues, in addition to the risks of market and exchange rates, which could result in a slowdown in progress or a reduction in expected returns.

This step represents a promising opportunity to strengthen the electric car battery industry in Morocco, and strengthen its position as a regional industrial center for this cutting-edge technology.