Morocco and a Chinese-European electric mobility company will establish a gigafactory dedicated to producing electric vehicle batteries and energy storage systems. The North African government and Chinese-European electric mobility company Gotion High-Tech signed a Memorandum of Understanding (MoU) to establish the factory.
This factory will bring more impact on the African continent. The project, estimated to cost $6.4 billion, aims to strengthen Morocco’s position as a leader in the automotive industry in Africa.
Once the idea materializes it is estimated to create 25,000 job opportunities for over 10 years. 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 would contribute to Morocco’s renewable energy and electric transport sector and solidify its reputation as an automotive industry powerhouse. The partnership aims to accelerate Morocco’s transition from fossil fuels to clean and decarbonized energy sources.
The head of the Moroccan government Aziz Akhannouch and several Chinese and Moroccan officials were present at the signing ceremony. The event took place in Marrakech, with the participation of 900 tech companies, 30 government entities, 250 investors, start-ups, big tech, and youth from more than 100 countries.
The summit seeks to support the continent's digital transformation and create a more connected and sustainable African economy.
Commenting on the partnership, Jazouli emphasized that the gigafactory will not only contribute to Morocco’s renewable energy and electric transport sector but also solidify its reputation as an automotive industry powerhouse.
He added that the partnership aims to accelerate the transition from fossil fuels to clean and decarbonized energy sources, noting that it focuses on the use of solar and wind energy while exploring effective means of energy storage.
It is to focus on the use of solar and wind energy while exploring effective means of energy storage.
According to the USA 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.
Morocco has significant resources in the renewable energy field that should be properly developed.