Chinese-Moroccan joint venture inaugurates EV battery parts factory
A Chinese-Moroccan joint venture announced on Wednesday the inauguration of a new factory for battery components for electric cars, the first of its kind in the North African country.
The complex will ultimately have a production “capacity equivalent to 70 GWH per year, enough to equip almost a million electric vehicles per year”, according to Operator Cobco, a joint venture between the Holding Company Al Mada of the Moroccan Royal Family and the Chinese company CNGR Advanced Materials.
The first phase of the project will produce Nikkel-Manganese-Cobalt prioter cathodes, “essential components for batteries used in electric vehicles and stationary energy storage,” Cobco said in a statement.
The company will ultimately include three “complementary” projects, it added, including a facility for refining critical metals and recycling old batteries.
China has become a global leader in the production of electric vehicles, while Morocco has recently invested a lot in renewable energy, which is currently good for 38 percent of the electricity produced in the country.
