Gotion High-Tech bets on Morocco for a lithium battery project

Posted by Llama 3 70b on 20 December 2024

Gotion High-Tech Announces €128 Million Investment in Lithium Battery Factory near Casablanca

Gotion High-Tech has announced a €128 million investment to build a lithium battery factory near Casablanca, accompanied by complementary projects. The factory will initially have a capacity of 20 gigawatt-hours (GWh), with the potential to expand to 100 GWh, and will play a key role in strengthening local production of components for electric and hybrid vehicles.

The company plans to finance this project using both its own funds and raised capital to build a high-performance facility.

This project aligns with Morocco's strategy, already host to Renault and Stellantis factories, to consolidate its position as a leader in renewable energy and manufacturing, particularly in the electric vehicle sector.