2024-07-20 02:54:41
This MoU was initialed by the Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli, and representatives of the Gotion High-Tech group, according to a joint press release.
Through this agreement, Gotion High-Tech, a leader in the electric mobility sector, plans to set up an industrial ecosystem for the production of batteries for electric vehicles and energy storage systems in Morocco, which would require an investment estimated at 65 billion dirhams (MMDH) for the creation of more than 25,000 jobs.
For the study of its investment project, Gotion High-Tech selected Morocco, which has established itself as a leader in the automobile industry in Africa, under the enlightened leadership of HM King Mohammed VI, notes the same source.
The investment by the Gotion High-Tech group would enable the implementation of complete battery production solutions for a capacity that could eventually reach 100GWh/year, and would be located in the Rabat-Salé-Kénitra region, in the commune of Bouknadel.
Through this partnership, the Kingdom plans to join forces with a key player in the renewable energy and electric mobility sector, whose reference shareholder is the Volkswagen automobile group, the press release underlines.
On this occasion, Mr. Jazouli indicated that “this memorandum is a necessary first step, prior to the signing of an investment agreement, which should allow the launch of a Gigafactory capable of consolidating the position of a leading player in the automotive industry of the Kingdom, made possible by the Leadership of HM King Mohammed VI”.
Gotion High-Tech Chairman Li Zhen, for his part, said that “the group is looking forward to contributing to the global development of green mobility solutions,” noting that Gotion is also pleased to cooperate with Morocco on this project to contribute to decarbonization and the deployment of innovative energy solutions.
“With its enchanting landscapes and its inclusive culture, Morocco is a country where people live in peace. The vision of HM King Mohammed VI has allowed Morocco to establish good economic relations with many countries around the world,” he added.
Morocco’s many assets, including its strong positioning as a competitive and carbon-free platform for automobile production, also make it possible to offer the sector’s main operators a reliable and credible solution for setting up production units to serve the main global markets.
A leader in the electric battery sector, Gotion High-Tech has nearly 20,000 employees worldwide, spread across multiple sites in Asia, Europe and North America. The company achieved sales of $3.2 billion in 2022, an increase of 122.59% over the previous year.
Listed on the Shenzhen (China) stock exchange – Stock Code 002074 and Zurich (Switzerland) stock exchange – ISIN Code US38349T1060, Gotion Group is an industry leader in some key technologies, such as LFP, NMC and semi-solid battery technology 210 Wh/kg LFP and 360 Wh/kg.
The Kingdom of Morocco is the continental leader in automobile production with a sector fully integrated into the global automotive value chain. The Moroccan automotive sector has a capacity expected to reach 1 million vehicles per year.
90% of automotive production is exported to more than 75 countries worldwide. The two established car manufacturers are integrated into an ecosystem of nearly 250 international tier 1 suppliers, including 30 of the world’s top 100 global players, such as Magna, Aptiv, Sumitomo, Valeo, Denso, Lear, Marelli, Faurecia, and Plastic Omnium.
2024-07-20 02:54:41