Rabat- China’s BTR Group specializing in lithium-ion battery materials announced that it will construct a plant in Morocco’s Tangier Technology City.
“The Moroccan project represents a total investment not exceeding $366 million, with the construction expected to take approximately two years,” BTR said in a statement on Wednesday.
The company described the project as a “significant step forward” as part of its international expansion.
Under its new project, BTR aims to achieve an annual production capacity of 60,000 tons of lithium-ion battery anode materials with the goal of enhancing service offerings to overseas customers.
This comes as Morocco has consistently emphasized the importance of boosting its automotive industry and its production of car batteries.
Last year, Minister of Industry Riyad Mezzour said he hopes to see Morocco as the world’s most competitive platform for electric car manufacturing.
The minister also pledged Morocco’s commitment to advancing the ongoing transformation of the electric car industry, “which will transition to 100%” by 2030 with an integrated industrial system.
In March of this year, Morocco signed a groundbreaking investment agreement with BTR.
The agreement introduced the construction of a cathode factory dedicated to electric vehicles courtesy of the Chinese group, with the venture notably promising the creation of 2,500 job opportunities.
“This investment in the electric mobility sector is not isolated; it is the first of several major projects to come,” Investment Minister Mohcine Jazouli said during the agreement’s signing ceremony.
“Morocco is determined to consolidate its position as a continental and regional hub in the automotive industry, playing a central role in this green mobility revolution,” he added.