MoU inked to develop $6.4bn battery manufacturing complex in Morocco ...United Arab Emirates

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MoU inked to develop $6.4bn battery manufacturing complex in Morocco
source : ME CONSTRUCTION NEWS ( United Arab Emirates ) () 71
A memorandum of understanding (MoU) between Hefei-based Gotion High-Tech and Moroccan officials has been inked. The MoU opens the door for the Chinese electromotive group to invest US $6.4bn into the development of a battery manufacturing complex in the country. According to a report, Gotion High-Tech specialises in energy storage products and has operations in China, Singapore, Germany, and California. It last year achieved 122% revenue growth to reach $3.2bn and said it intends to enter Africa with a gigafactory in Rabat, with an annual production capacity of 100GWh, creating around 25,000 jobs. Moroccan Investment Minister Mohcine Jazouli said the agreement was a “necessary first step bef

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