Morocco nets two agreements for battery parts manufacturing: Morocco signed two agreements with Chinese manufacturer Hailiang and battery electrode developer Shinzoom to develop two separate battery parts plants with a total investment ticket of USD 910 mn, Map reports. The plants will be located in Morocco’s Mohammed VI Tangier Tech industrial city.

First up, Hailiang: Hailiang’s lithium-battery copper foil plant — which was previously said to cost USD 288 mn — will now have an investment ticket of USD 450 mn, according to Map. The project is set to break ground later this year. Hailiang says the plant will have the capacity to produce 50k tons of alloy, 35k tons of pipe, 40k tons of rod, and 25 tons of foil annually for export to Europe, America, MENA, and Africa. The project will be completed in 36 months.

Next, Shinzoom: The Shinzoom project was valued at USD 460 mn and will start construction this year. The facility will extend over an area of up to 20 hectares. Shenzoom specializes in production of anodes for lithium batteries and is a subsidiary of Hunan Zhongke Electric Company.

REMEMBER- This is part of a wider shift in overseas production: Hailiang has been increasingly turning to overseas markets as it faces shrinking profit margins at home due to tighter restrictions on Chinese products in the West. By moving its production to other countries, the company is able to evade the US sanctions on Chinese goods.

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