Morocco plugged in for more EV battery investment

The Moroccan government is in talks to attract more electric battery manufacturers to meet the rising demand for electric vehicles, industry and trade minister Ryad Mezzour told Reuters.

The country’s automotive sector already hosts production facilities of major players like Stellantis and Renault, complemented by a network of local suppliers, with an annual combined production capacity of 700,000 cars. Exports hit $14 billion in 2023.

Recent approvals include the greenlight for BTR New Material Group, a Chinese firm, to establish a cathode factory near Tangier. CNGR Advanced Material, another Chinese manufacturer, is planning a plant in Jorf Lasfar.

Last year the Moroccan government and China's Gotion started to explore setting up an EV battery plant which could see investment worth $6.3 billion. Negotiations are underway with five other manufacturers to set up similar plants, the minister added.

Meanwhile, Stellantis and Renault are diversifying their production lines to include electric and hybrid models. 

Laying out Morocco’s strategic vision, Mezzour said Moroccan made electric vehicles are planned to represent up to 60% of exported cars by 2030, ahead of the EU's 2035 fossil-fuel car ban.