A Chinese maker of battery components for electric cars, CNGR Advanced Material Co, partnered with Al Mada, Moroccan Royal holding company, to build an industrial base in Morocco, according to a joint statement published on Tuesday 19.
The industrial base will ensure the production of zero-waste, low-carbon, and recyclable new energy battery components, which will help accelerate the global transition to more sustainable and green energy.
According to Bloomberg, the partners shared a joint statement announcing that the industrial base will be built in Jorf Lasfar and will start this year.
The statement also highlighted that the total investment is estimated at more than 20 billion Moroccan dirhams (2 billion dollars) and the first production of battery components is scheduled for 2025.
The main mission of the partnership is to valorize the national natural resources, including cobalt, phosphate, and manganese, to transform them into materials for electric cars.
According to the same source, “In a first phase, the joint venture aims to develop production units for NMC active material precursor with a capacity of 120 kt per year, production units for LEP cathodes with a capacity of 60 kt per year, as well as material recycling units from batteries with a capacity of 30 kt per year. This domestic production, equivalent to 70 gigawatt-hours and capable of equipping over 1 million electric vehicles per year, is primarily intended for export to meet the high demand in European and American markets.”
The joint venture is currently holding commercial discussions with the OCP group for the supply of phosphate products for the needs of this project.
The CNGR and Al Mada emphasized that the two companies are working together to ensure responsible and sustainable production, with a particular focus on green energy, high-local integration, and significant knowledge transfer to Morocco.
The new investment is set to promote the emergence of a new ecosystem, positioning Morocco on the global stage in the battery industry. It will also create thousands of direct and indirect job opportunities, and strengthen the national automotive industry in its future energy transition, according to the same source.
CNGR Advanced Material Co is a Chinese company specializing in the research, development, production, processing, and sales of advanced energy materials for lithium batteries.