Under the presidency of the Head of Government, signing with BTR of an investment agreement worth 3 billion Dirhams: A historic first for the Moroccan automotive industry
Rabat, on Friday March 29, 2024
The Head of Government, Mr. Aziz AKHANNOUCH, chaired the signing ceremony of the investment agreement for the strategic project of BTR New Material Group on Friday, March 29, 2024. The project involves the construction of a cathode production unit, an essential component of electric vehicle batteries, with an investment amount of 3 billion dirhams and the creation of more than 2,500 jobs.
This large-scale project, the first of its kind in Morocco's electric battery ecosystem for which an agreement has been signed, envisages the establishment of a factory with a capacity of 50,000 tons per year within the Mohammed VI City of Tanger Tech. Developed in 2 phases over an area of 15 hectares, the operation of the first phase with a capacity of 25,000 tons is scheduled to start in September 2026
The project, whose works have already started, is led by the Chinese group BTR, a global leader in the manufacture of components for electric batteries. Its clients include major electric battery manufacturers such as BYD, CATL, Volkswagen, and Tesla.
Under the leadership of His Majesty King Mohammed VI, May God Assist Him, Morocco has become a significant regional leader in the automotive industry. The choice of the Kingdom for this project reflects the renewed confidence of international investors in the " Morocco Destination " and particularly in the automotive sector, at a pivotal moment when the sector is undergoing profound transformation globally with the transition to electric vehicles.
This project also marks a major step forward in BTR Group's international development strategy and serves as evidence of the quality of cooperation and friendship between the Kingdom of Morocco and the People's Republic of China.
Mr. JAZOULI, Minister of Investment, Convergence and Evaluation of Public Policies, emphasized on this occasion that " This investment in the electric mobility sector marks the beginning of several significant projects, poised to establish the Kingdom as a compelling hub for the electric vehicle battery industry and a pivotal contributor to the production of essential components for the sector's future. Under the enlightened leadership of His Majesty King Mohammed VI, May God Assist Him, Morocco is determined to strengthen its position as a regional hub in the automotive industry, playing a central role in this green mobility revolution.”
The investment agreement was signed by the President of BTR Raw Materials, Mr. YouYan HUANG, the Minister of Economy and Finance, Mrs. Nadia FETTAH, the Minister of Economic Inclusion, Small Business, Employment, and Skills, Mr. Younes SEKKOURI, the Minister of Industry and Trade, Mr. Ryad MEZZOUR, and the Minister Delegate to the Head of Government, in charge of Investment, Convergence and Evaluation of Public Policies, Mr. Mohcine JAZOULI, in the presence of the Ambassador of the People's Republic of China to Morocco, Mr. Changlin LI, the President of BTR Group, Mr. Xueqin HE, and the General Manager of AMDIE, Mr. Ali SEDDIKI.
