A strategic investment agreement was signed this morning between the Moroccan government and the Chinese-European group GOTION High-Tech, a leader in electric mobility.
According to a statement from Morocco’s Prime Minister’s Office, this agreement will lead to the establishment of a massive industrial unit “GIGAFACTORY” with an integrated ecosystem for the production of electric vehicle batteries in the city of Kenitra. This will be the first of its kind in the Middle East and North Africa, enhancing Morocco’s leadership in the automotive industry and energy transition.
The investment agreement was signed by Abdelouafi Laftit, Minister of the Interior; Nadia Fettah, Minister of Economy and Finance; Nizar Baraka, Minister of Equipment and Water; Fatima-Zahra Mansouri, Minister of National Territory Planning, Urban Planning, Housing and City Policy; Younes Sekkouri, Minister of Economic Integration, Small Business, Employment and Skills; Ryad Mezzour, Minister of Industry and Trade; Leila Benali, Minister of Energy Transition and Sustainable Development; Mohcine Jazouli, Minister Delegate in charge of Investment, Convergence, and the Evaluation of Public Policies; Fouzi Lekjaa, Minister Delegate in charge of the Budget; along with Li Zhen, General Manager of the Chinese-European group GOTION High-Tech, and Ali Seddiki, Director General of the Moroccan Investment and Export Development Agency.
To establish this massive industrial unit, Morocco placed its trust in GOTION High-Tech as a leader in the electric battery sector. The German Volkswagen Group is among its main shareholders. The project aims to develop an integrated project for the production of electric vehicle batteries with a capacity of up to 20 GWh and an investment cost of 12.8 billion dirhams. This project is expected to create 17,000 direct and indirect jobs, including 2,300 highly skilled positions.
