China's CNGR Launches $2 Billion EV Battery Plant in Morocco

A new electric vehicle (EV) battery production facility has opened in Morocco through a joint venture called COBCO, involving Chinese firm CNGR Morocco New Energy and African investment fund Al Mada. Located near Jorf Lasfar, the plant is part of a $2 billion investment aimed at establishing a sustainable battery supply chain, focusing initially on nickel-cobalt-manganese (NCM) materials for lithium-ion batteries. The facility is designed to produce up to 70 gigawatt-hours of energy annually, sufficient to power over 1 million electric vehicles, catering to the growing demands of European and North American markets while avoiding Western tariffs. Future expansions are planned to include lithium-iron phosphate (LFP) materials and advanced recycling technologies. This initiative positions Morocco as a vital player in the global EV market and highlights the increasing influence of Chinese firms in the automotive sector. The establishment of COBCO represents a strategic move to meet the surging demand for sustainable battery solutions worldwide.