Moroccan Minister of Industry and Trade, Ryad Mezzour, revealed that the expected investment in Morocco’s electric car battery industry ranges from $45 to $50 billion, aimed at establishing a comprehensive battery production infrastructure.
During a recent interview, at the Qatar Economic Forum, Mezzour explained Morocco’s plan to double its production capacity for both traditional and electric vehicles from 700,000 to 1.4 million within 3 to 4 years, with a target of reaching one million cars by 2025.
In anticipation of this investment surge, the government initiated the establishment of the first industrial zone dedicated to the battery industry, electronics, and electric car components in March. Covering 283 hectares, the zone is situated 100 kilometers south of Casablanca. Initial investments totaling $2.4 billion have already been secured, according to Mezzour’s previous statements.
Yesterday, witnessed the signing of agreements between two Chinese companies to embark on two industrial ventures within Morocco’s automotive battery sector, located in Mohammed VI Tangier-Tech city in the north of the country. The combined investment for these projects amounts to approximately $910 million.
The initial project, requiring an investment of $450 million, will be spearheaded by “Hailiang,” a prominent copper producer and automotive parts manufacturer. Spanning an area of approximately 30 hectares, it aims to establish a significant presence. Meanwhile, the second venture, with a $460 million investment, will be led by “Shinzoom,” specializing in lithium battery anode production, covering a 20-hectare site.
