{"id":78960,"date":"2023-08-14T01:00:49","date_gmt":"2023-08-14T01:00:49","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/"},"modified":"2023-08-14T01:00:49","modified_gmt":"2023-08-14T01:00:49","slug":"chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/","title":{"rendered":"China's Huayou is considering USD 20 bn EV battery plant in Morocco"},"content":{"rendered":"

<\/a> Chinese battery minerals producer Zhejiang Huayou Cobalt is <\/strong>mulling a MAD 200 bn (c. USD 20 bn) electric vehicle battery plant in Morocco<\/strong>, Hespress<\/a> reported on Wednesday, citing a regional investment center official.<\/p>\n

What we know:<\/strong> The facility, which would be located in Laayoune Sakia El Hamra in the Western Sahara, would have a production capacity sufficient to meet 30% of the demand in EV batteries by local, European and US markets, Director-General of the Regional Investment Centre of the Laayoune-Sakia El Hamra region Mohamed Jifer told Hespress. This would roughly mean batteries supplied to over 6 mn electric vehicles by 2030, Jifer added.<\/p>\n

We already know Morocco is getting a gigafactory from the Chinese: <\/strong>Morocco signed an<\/a>MoU<\/a> with Chinese battery maker Gotion High Tech in June to build a roadmap for setting up a gigafactory for EV batteries and energy storage systems. Under the agreement, Gotion High-Tech will set up a \u201cgigafactory\u201d with investments estimated at MAD 65 bn (c. USD 6.4 bn) in Bouknadel. The facility, which will be the first of its kind in Africa, will have a production capacity of 100 GWh and will create 25k jobs.<\/p>\n

REMEMBER- Morocco has transformed itself into a <\/strong>regional automotive powerhouse<\/a><\/strong><\/a>through smart incentives and consistent government policy, and it is now a key exporter to Europe as well as to other MENA countries, including Egypt. It has put together a comprehensive agenda including developing a national master plan for electric mobility, designating zones where fossil-fuel cars are banned, giving tax exemptions on EVs<\/a>, and developing the infrastructure through an iSmart charging station<\/a>. Morocco is targeting the production of around 1 mn EVs in the next three to four years, according to statements by officials last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chinese battery minerals producer Zhejiang Huayou Cobalt is mulling a MAD 200 bn (c. USD 20 bn) electric vehicle battery plant in Morocco, Hespress reported on Wednesday, citing a regional investment center official. What we know: The facility, which would be located in Laayoune Sakia El Hamra in the Western Sahara, would have a production […]<\/p>\n","protected":false},"author":1,"featured_media":78961,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[103],"tags":[69,102,11,64,45,1790],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-vehicles","tag-china","tag-electric-vehicles","tag-enterpriseclimate","tag-evs","tag-morocco","tag-zhejiang-huayou-cobalt","wpautop","entry"],"acf":{"mongo_id":"96328bb4-859f-4c0d-844b-e62ebfa90da1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/2759.jpg","photo_position":"above","related_issue":[78950],"teaser":"","voice_url":""},"yoast_head":"\nChina's Huayou is considering USD 20 bn EV battery plant in Morocco - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China's Huayou is considering USD 20 bn EV battery plant in Morocco\" \/>\n<meta property=\"og:description\" content=\"Chinese battery minerals producer Zhejiang Huayou Cobalt is mulling a MAD 200 bn (c. 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