Electric Vehicles: Morocco Inaugurates 40,000-Ton Lithium Battery Materials Plant
With a capacity of 40,000 tons, the project is part of the first investment phase in the company's industrial complex dedicated to Nickel, Manganese Cobalt-based cathode precursors.
The materials are key components for electric vehicles, batteries, and stationary energy storage, a statement from COBCO said, noting that the materials are made of metals like nickel, cobalt, and manganese.
The Moroccan company, which is a strategic partnership between Al Mada and CNGR Advanced Materials, explained that the industrial platform spans more than 200 hectares.
The company pledged that the project is a 'strategic milestone in the development of Morocco's clean technology industry.'
'This key step not only marks the launch of a pioneering project outside Asia but also catalyzes the emergence of a Moroccan ecosystem dedicated to the strategic battery industry targeting the MENA region, Europe, and the United States,' the statement reads, noting that the project strengthens Morocco's ambition to become a central player in global green technology value chains.
The statement said the total investment for the project ultimately amounts to several billion dirhams, spreading across three complementary industrial projects.
The COBCO production complex will include an annual capacity of 120,000 tons of Nickel Manganese Cobalt precursor production and 60,000 tonnes for Lithium-Iron Phosphate cathode production.
COBCO pledges to continue to boost its activities to reinforce Morocco's industrial sovereignty and contribute to the consolidation of its automotive ecosystem in the context of the electric transition.
The company is promising 5,000 jobs during the construction phase, with 1,800 direct skilled jobs and 1,800 indirect jobs created in the long term.
The planned project comes as Morocco is aiming to increase its electric vehicle production capacity by 53%.
Earlier this month, Minister of Industry Ryad Mezzour said Morocco's goal is to increase production to reach 107,000 electric vehicles by the end of 2025.
Morocco's overall automotive production stands at 700,000 vehicles, and by the end of the year, Morocco is expected to produce one million vehicles.
The automotive sector is Morocco's first exporting industry. Between 2014 and 2018, the sector created at least 116,000 jobs. Tags: Automotive ExportsElectric Vehicle Battery
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