The partnership is poised to position Morocco as a key player in the automotive industry, as well as drive economic growth in the region.
Rabat - The Moroccan government and Chinese-European electric mobility company GOTION High-Tech on Wednesday signed a Memorandum of Understanding (MoU) to establish a gigafactory dedicated to producing electric car batteries and energy storage systems, the first of its kind in Africa.
The project, estimated to cost MAD 65 billion dirhams ($6.4 billion), aims to strengthen Morocco’s position as a leader in the automotive industry in Africa.
It is poised to generate an estimated 25,000 job opportunities over 10 years, stimulating economic growth and prosperity in Morocco and the region, according to a press release.
In addition, the state-of-the-art facility holds the potential to create a comprehensive battery production solution with a capacity of 100 gigawatts per year.
The statement indicated that GOTION High-Tech chose Morocco as an investment destination due to the country’s expertise in the sector, as well as its commitment to sustainable development.
The agreement was signed on the sidelines of the first edition of GITEX Africa by Morocco’s Minister Delegate in charge of Investment, Convergence, and Evaluation of Public Policies, Mohcine Jazouli, and the President of GOTION High-Tech Li Zhen.
The head of the Moroccan government Aziz Akhannouch and several Chinese and Moroccan officials were present at the signing ceremony.
The event is taking place May 31 and June 2 in Marrakech, with the participation of 900 tech companies, 30 government entities, 250 investors, start-ups, big tech, and youth from more than 100 countries.
The summit seeks to support the continent's digital transformation and create a more connected and sustainable African economy.
Commenting on the partnership, Jazouli emphasized that the gigafactory will not only contribute to Morocco’s renewable energy and electric transport sector, but also solidify its reputation as an automotive industry powerhouse.
He added that the partnership aims to accelerate the transition from fossil fuels to clean and decarbonized energy sources, noting that it focuses on the use of solar and wind energy while exploring effective means of energy storage.
For his part, Zhen said that the project aligns with his company’s goals to provide green energy to the entire population, as well as contribute to Morocco’s economic development.