Morocco and a Chinese-European electric mobility company are to establish a gigafactory dedicated to producing electric vehicle batteries and energy storage systems.
This week, the North African country’s government and Chinese-European electric mobility company Gotion High-Tech signed a Memorandum of Understanding (MoU) to establish the factory.
They said it would be a first of its kind for Africa.
The project, estimated to cost $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, according to a press release.
Local media said 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.
Jazouli said the factory will contribute to Morocco’s renewable energy and electric transport sector and solidify its reputation as an automotive industry powerhouse.
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The partnership aims to accelerate Morocco’s transition from fossil fuels to clean and decarbonised energy sources.
It is to focus on the use of solar and wind energy while exploring effective means of energy storage.
According to the US’ International Trade Administration, Morocco has high renewable energy potential, in both solar and wind.
“Due to Its geographical location between Europe and the rest of Africa, Morocco plans to be a leader in the production of green fuels for domestic use and export… particularly through the production of green hydrogen.
“The Ministry of Energy estimates that Morocco will be able to achieve a valuable share of the green hydrogen market, between 2% and 4% of global production by 2030.”
Li said Morocco has significant resources in the renewable energy field that should be properly developed.