Investment: Rapid Progress on the First Gigafactory in the Region
Rabat, Monday, July 22, 2024
The Minister Delegate to the Head of Government, in charge of Investment, Convergence, and Public Policy Evaluation, Mr. Mohcine JAZOULI, held a productive meeting on Monday, July 22, 2024, with the President of Gotion High-Tech Group, Mr. Li ZHEN, to discuss the rapid progress of the strategic Gigafactory project, in line with the ambitious schedule set out in the agreement signed in June 2024.
It is important to note that Morocco's selection as the location for Gotion High-Tech's new Gigafactory—the first in Africa and the Middle East—reflects a strong confidence in the country as a preferred investment destination. Under the enlightened leadership of His Majesty King Mohammed VI, may God assist Him, Morocco has solidified its position as a strategic hub in job-creating and value-added industrial sectors.
This investment marks the first step in the group’s industrial activities development in Morocco, with a total investment amount of 65 billion dirhams.
Following the meeting, the Minister stated: “We are proud to announce that Africa's first Gigafactory is already taking shape. This milestone represents a significant advancement in our commitment to a sustainable automotive industry and technological progress. The project promises to bring numerous economic opportunities and innovative solutions to the region.”
