Huayou, a Chinese manufacturer of electric vehicles battery materials, would invest 200 billion dirhams or $20 bln in a plant in Morocco’s region of Laayoune Sakia El Hamra in the Sahara, the regional investment center announced. The plant would be completed in 7 years and would employ 13,000 people, the regional investment center said in a statement. The plant is expected to have a capacity to supply batteries to 6 million cars annually with a potential to export to Europe and the US, it said. Morocco has already announced plans to attract EV batteries manufactures to adapt its growing automotive sector to low-carbon requirements. Cars and their components have topped Morocco’s exports so far this year outperforming phosphates and fertilizers sales.

Source: The North Africa Journal August 10, 2023 12:26 UTC