Sino-Moroccan COBCO begins producing EV battery materials
COBCO is a joint venture between Moroccan investment fund Al Mada and CNGR Advanced Materials, a battery materials producer.
Morocco's proximity to Europe, automotive industry, free trade deals, and available phosphates and cobalt make it attractive to Chinese EV battery makers.
In a first phase, the plant will produce two key components for lithium-ion batteries: nickel-manganese-cobalt (NMC) and precursor cathodes (pCAM), COBCO said in a statement.
The materials will be produced from nickel, cobalt and manganese, which are key components for EV batteries and stationary energy storage, it said.
Ultimately, the $2 billion plant targets an annual capacity equivalent to 70 gigawatt-hours, enough to equip one million vehicles, a source close to the project told Reuters.
The plant aims to reach an annual production capacity of 120,000 tonnes of NMC precursors and 60,000 tonnes of lithium-iron-phosphate (LFP) cathodes.
The LFP cathodes production will start "as soon as a regional LFP battery ecosystem emerges," the company said.
COBCO's plant marks a first production start in Morocco's push to be a hub for the EV battery supply chain, as it seeks to adapt its automotive sector to EV industry requirements.
Sino-European EV battery maker Gotion High Tech is building Africa's first gigafactory in Morocco, for a total investment of $6.5 billion, with production expected in the third quarter of 2026.
Chinese auto battery manufacturers Hailiang and Shinzoom announced last year plans to set up two separate plants near Tangier, which would produce key EV battery ingredients: copper and anodes respectively.
Chinese electric battery maker BTR New Material Group is also planning to produce key component cathodes in Tangier.
Morocco is home to Stellantis (STLAM.MI), opens new tab and Renault (RENA.PA), opens new tab vehicle production plants, and reported a 6.3% increase in automotive sector exports to a record 157 billion dirhams ($17 billion) in 2024, according to official figures.
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