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Last year, the Moroccan government and China's Gotion agreed to look into setting up an electric vehicle battery plant in the kingdom with up to $6.3 billion in eventual investment. Industry minister Ryad Mezzour told Reuters last month the Gotion project was advancing with discussions on the footprint and location.
RABAT, May 15 (Reuters) - Chinese auto battery manufacturers Hailiang and Shinzoom will set up two separate plants in Morocco, as the country seeks to adapt its growing automotive sector to increasing demand for electric vehicles, Moroccan officials said on Tuesday.
Shinzoom, part of Hunan Zhongke, will invest $460 million in an anodes plant spanning over 20 hectares, they said in a statement. In April, the Moroccan government gave the green light for Chinese electric battery maker BTR New Material Group (835185.BJE) to build a factory near Tangier to produce key component cathodes.
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