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Gotion High-Tech has announced plans to allocate €1.28 billion toward the development of a cutting-edge lithium battery production facility in Morocco. Rabat – Gotion High-Tech has announced plans to allocate €1.28 billion toward the development of a cutting-edge lithium battery production facility in Morocco.
Tinci Materials plans a factory in Morocco with an annual production of 300,000 tons of lithium battery materials. Huayou Cobalt and LG Energy Solution will co-build a plant in Morocco, one for 50,000 tons of LFP annually and another for 52,000 tons of lithium conversion annually.
Since 2023, several Chinese lithium battery industry chain companies, including CATL, Gotion High-Tech, Sunwoda, BTR, Huayou Cobalt, CNGR Advanced Material and Tinci Materials, have collectively invested in Morocco and built factories. The battery industry chain centered around LFP is forming rapidly.
The battery industry chain centered around LFP is forming rapidly. In June this year, the Moroccan government announced that Gotion High-Tech would invest $1.3 billion (US) to build a gigafactory for EV batteries.
Battery industry giants, including South Korea's LG and China's Gotion, have announced three major electric vehicle battery plants in Morocco in recent months. But the sourcing of their critical - 10/30/2023
CATL has already planned over 100 GWh of production capacity at its European factories. Additionally, Sunwoda is also setting up a battery production base in Morocco. The number of material manufacturers investing in Morocco is even larger.
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