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It is reported that Guoxuan High Tech intends to build a battery factory in Morocco, North Africa, with a total investment of 6.3 billion US dollars

by PFTLCD 03 Jun 2023 0 Comments

On June 3rd, according to Reuters, the Moroccan Investment and Export Development Agency stated that the Moroccan government and Chinese battery manufacturer Guoxuan High Tech have begun exploring the establishment of a battery factory in Morocco.

According to the report, the total investment in the planned project of the factory is expected to reach 6.3 billion US dollars . In addition, the relevant person in charge of Guoxuan High tech told Pengpai News reporters, "The company and the Moroccan government have intentions to build battery factories in the local area, and are currently in communication." Guoxuan High tech pointed out that the biggest reason for choosing Morocco is to consider the market in the European and African region. It is reported that the annual production capacity of the factory will reach 100Gwh.
According to the official website of the Moroccan Investment and Export

Development Authority, Morocco is a leader in the automotive industry in Africa, with a total vehicle production capacity of approximately 700000 vehicles and over 250 automotive parts suppliers. Among them, Peugeot Citroen, a subsidiary of Stellantis, the world's fourth largest automaker, and French automaker Renault have both established complete vehicle factories in Morocco.

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It is reported that Guoxuan High Tech intends to build a battery factory in Morocco, North Africa, with a total investment of 6.3 billion US dollars

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It is reported that Guoxuan High Tech intends to build a battery factory in Morocco, North Africa, with a total investment of 6.3 billion US dollars

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