Latest news with #Sino-European
Morocco World
22-05-2025
- Automotive
- Morocco World
Gotion Gigafactory Construction Launches Within Days in Kenitra
Doha – Construction of Africa's inaugural gigafactory will commence within days in Kenitra. Gotion Power Morocco has finalized preparatory groundwork for the colossal battery manufacturing facility. The Sino-European electric vehicle battery behemoth signed an investment accord with Rabat in June 2023. The comprehensive agreement encompasses a staggering $6.5 billion commitment across five developmental phases. Khalid Qalam, Gotion's Moroccan director, announced the imminent construction launch during Wednesday's industrial conference in Rabat. Terrassement operations have reached completion, and production inauguration is slated for the third quarter of 2026. The initial phase demands $1.3 billion in capital expenditure. Manufacturing capacity will reach 20 gigawatts. Government negotiations have secured approval for capacity expansion to 40 GW in the second phase, culminating in 100 GWh total capacity across all five phases. The facility will achieve remarkable vertical integration from inception. Nearly 70% of battery production costs will originate domestically. This unprecedented localization strategy positions Morocco competitively against global rivals. Manufacturing will encompass batteries, cathodes, and anodes. European markets constitute the primary export destination. The company has already secured numerous orders from European automotive manufacturers. Phase one will generate 2,300 employment opportunities. The complete five-phase project will create 10,000 positions across the industrial complex. Morocco's automotive sector achieved record-breaking performance in 2024. Export revenues reached MAD 157 billion ($15.7 billion), representing a 6.3% annual surge. The country surpassed China, Japan, and India to become the European Union's leading automotive exporter in 2023. Gotion anticipates serving dual market segments. Automotive applications will primarily target European manufacturers alongside Moroccan production zones. Renault and Stellantis maintain an established manufacturing presence within the country. Energy storage represents the second pivotal market. Morocco, Africa, and Middle Eastern regions benefit from approximately 300 annual sunshine days. This climatic advantage creates exceptional growth potential for renewable energy storage solutions. Last year, two-thirds of Gotion's revenue originated from energy storage applications. Mobility accounted for the remaining third. Residential energy storage markets are projected to explode over the forthcoming decade. The project represents one component of extensive Chinese investment proliferation across Morocco. Chinese automotive investments have reached approximately $10 billion in recent years through Belt and Road Initiative financing. Beijing now views Morocco as a critical gateway to European markets, allowing Chinese firms to bypass tariff barriers. The country's advanced transport infrastructure — including the Tangier-Med port — along with abundant phosphate reserves vital for battery production, enhance its industrial attractiveness. Morocco's swift transition to clean energy further boosts its appeal to foreign investors. Strategically located just south of Europe, Morocco benefits from its proximity and its comprehensive free trade agreement with the European Union — making it an increasingly valuable partner in global supply chains. Tags: chinese investments in MoroccogigafactoryGotion High-Tech
Yahoo
22-05-2025
- Automotive
- Yahoo
Gotion to commence construction of Morocco gigafactory
Gotion Power Morocco, a branch of the Sino-European electric vehicle (EV) battery manufacturer Gotion High Tech, plans to commence construction of its gigafactory in Morocco soon, reported Reuters citing the company's Moroccan head Khalid Qalam. The move follows an investment agreement signed in June 2024 between Gotion High Tech and the Moroccan government. Planned to be built near Kenitra in northwestern Morocco, the proposed gigafactory is expected to mark the first of its kind on the African continent. It involves a total investment of $6.5bn. Qalam was cited by the news agency as saying at an industry conference in Rabat, Morocco, that the groundwork for the site had been finalised. He stated that the facility is expected to begin production in the third quarter of 2026. The project's initial phase will involve an investment of $1.3bn and deliver a production capacity of 20GW. Qalam noted that the company had reached an agreement with the Moroccan government to eventually expand capacity to 40GW in a second phase, though no timeline was disclosed. Beyond battery manufacturing, the facility will also produce cathodes and anodes. Qalam said the intention is to export the majority of production to Europe. "We have already received orders from many European car manufacturers," Qalam added. SK IE Technology Company (SKIET), an EV battery materials manufacturer belonging to South Korea's SK Group, signed a preliminary agreement to supply materials to Gotion High Tech Company. The deal provides for SKIET to supply separator materials for Gotion's EV battery and ESS plants located in the US and Europe. "Gotion to commence construction of Morocco gigafactory – report" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
South China Morning Post
08-04-2025
- Business
- South China Morning Post
If the EU adopts a ‘US plus one' strategy, Hong Kong has a role to play
The past years of Sino-European relations have been dominated by turmoil and calls to de-risk and even decouple . But the times are a-changing. Since US President Donald Trump began instigating a global trade war, now in full effect after his 'Liberation Day' sweeping tariffs , the level of engagement between Europe and China has only increased. Advertisement Evidence of that lies in a softening tone towards China from notorious China hawks like European Commission President Ursula von der Leyen and a stream of European diplomats and officials visiting Beijing as well as recent meetings between President Xi Jinping and the CEOs of top European companies like ThyssenKrupp, BMW and Ikea. In people-to-people relations, we have also experienced a shifting mindset, with interest in China skyrocketing. A diverse range of people in diplomacy, business, academia, art and other professions are reaching out to us to understand life in Hong Kong, as a gateway between the world and mainland China. Can increased European engagement with China offer a contingency plan for an increasingly adversarial transatlantic relationship Taking a step back, most economists – perhaps apart from those working in the Trump administration – will tell you that tariffs are basically a sales tax on local consumers . They will also tell you that tariffs can spark further inflation. Yet, it is clear that the Trump administration has decided to launch tariffs the likes of which the world has not seen for a very long time. While some argue that these tariffs are nothing more than a strategic ploy, aimed at pushing countries to the negotiating table to get the best deal and potentially create a ' Mar-a-Lago Accord ' to devalue the US dollar, the short-, medium- and long-term effects of such trade policy by the US will certainly be felt across the world. Advertisement The reciprocal tariffs also go against the idea of comparative advantage in trade between countries – known to economists since David Ricardo helped popularise the term in 1817. It seems we live in an era where political strategy eats economics for breakfast.
