Morocco and the Sino-European Gotion High-Tech Group signed, on Thursday in Rabat, a strategic investment agreement worth 12.8 billion dirhams on the creation of a complete industrial ecosystem for the manufacture of electric batteries in Kenitra.
The investment agreement, signed at a ceremony chaired by Head of Government, Aziz Akhannouch, will create 17,000 direct, indirect and induced jobs, including 2,300 highly skilled jobs, according to a statement by the Head of Government’s Department.
This major strategic investment involves not only the first “Gigafactory” to be built in Morocco, but also the first of its kind in the entire Middle East & Africa region, consolidating the Kingdom’s position as regional leader in the automotive industry and energy transition, in line with the enlightened Strategic Vision of His Majesty King Mohammed VI.
The agreement was signed by Minister of the Interior, Abdelouafi Laftit, Minister of Economy and Finance, Nadia Fettah, Minister of Equipment and Water, Nizar Baraka, Minister of National Territory Planning, Land Planning, Housing and City Policy, Fatim-Ezzahra El Mansouri, Minister of Economic Inclusion, Small Business, Employment and Skills, Younes Sekkouri, and Minister of Industry and Commerce, Ryad Mezzour.
It was also inked by Minister of Energy Transition and Sustainable Development, Leila Benali, Minister Delegate to the Head of Government in charge of Investment, Convergence and Evaluation of public policies, Mohcine Jazouli, Minister Delegate to the Minister of Economy and Finance, in charge of the Budget, Faouzi Lekjaa, and president of the Gotion High Tech Group, Zhen LI, in the presence of Director General of AMDIE, Ali Seddiki.
For this first Gigafactory, the Moroccan government has decided to place its trust in the Sino-European player Gotion High-Tech, a world leader in the electric battery sector, with the German Volkswagen Group as one of its reference shareholders, to develop an integrated project for the production of batteries for electric vehicles with a capacity of 20 GWh, worth 12.8 billion dirhams, and which will create 17,000 direct, indirect and induced jobs, including 2,300 highly-skilled jobs, the statement added.
This investment corresponds to the first phase in the development of the Group’s industrial activities in Morocco, with plans to eventually develop a capacity of 100 GWh for a total investment of 65 billion dirhams.