Casablanca – The Moroccan government has made an investment agreement worth 3 Billion Dirhams (about $309.27 Million USD) with the well-known Chinese company, BTR New Material Group. The agreement, signed in Rabat, is an important achievement in Morocco’s plan in the electric vehicle (EV) battery production.

The investment agreement focuses on the establishment of an industrial unit dedicated to the production of negative electrical cathodes, vital components for EV batteries. This strategic project is expected to generate approximately 2,500 employment opportunities, further contributing to Morocco’s economic development and job creation initiatives.

At the center of this project,  the construction of a cutting-edge factory with an annual production capacity of 50,000 tons. Situated within the Mohammed VI Industrial City, Tangier Tech, the facility will span across 15 hectares of land. The project will be executed in two phases, with the initial phase slated to commence operations by September 2026, producing 25,000 tons per year.

The Moroccan Ministry of Investment, Convergence, and Public Policy Evaluation emphasized the significance of this initiative, highlighting its role in pushing Morocco to the forefront of the global automotive industry. The choice of Morocco as the site for this important project underscores the country’s favorable investment climate and its strategic positioning within the automotive sector.

BTR New Material Group, a leading player in the global electric battery component industry, brings its expertise and track record of excellence to this collaboration. With a clientele that includes major EV battery manufacturers such as BYD, CATL, Volkswagen, and Tesla, BTR’s involvement further solidifies Morocco’s reputation as an attractive destination for foreign investment.

In a statement, Mohsen El Jazouli, the Minister Delegate to the Head of Government in charge of Investment, Convergence, and Public Policy Evaluation, underscored the significance of this investment in advancing Morocco’s role in the electric mobility sector. He emphasized that this project is part of a broader strategy aimed at positioning Morocco as a regional leader in electric vehicle battery manufacturing and a key contributor to the sector’s future development.

The signing ceremony, attended by high-level officials from both Morocco and China, including government ministers and business leaders, signifies the strong bilateral ties between the two nations. It reflects a shared commitment to fostering economic cooperation and driving innovation in the automotive industry.

As Morocco continues to make strides in sustainable development and green technologies, this partnership with BTR New Material Group represents a significant step towards realizing its vision of becoming a leading player in the global electric vehicle market. With the construction of the state-of-the-art manufacturing facility underway, Morocco is poised to play a pivotal role in shaping the future of electric mobility.

As Morocco progresses in sustainable development and green technologies, partnering with BTR New Material Group marks an important move towards achieving its goal of becoming a competitor actor in the worldwide electric vehicle market.