According to Industry Minister Ryad Mezzour, Morocco is in talks with companies that make electric car batteries to Set up EV Battery Gigafactory. The factory is there to complement its already-existing automotive industry and cobalt output.
In an interview with Reuters, the minister stated, “We aim to conclude a deal for the facility before the end of this year,” but he would not identify the firms.
He referred to it as a “gigafactory,” a phrase often used for very big manufacturing facilities, although he did not specify how much investment it would need.
The availability of renewable energy and raw minerals like cobalt and phosphates in the nation would boost the proposed plant for EV batteries, according to him, and will “provide significant impetus for the local automotive sector.”
Outside and inside Morocco, where Citroen wants to quadruple its manufacturing capacity from 50,000 supermini electric vehicles in two years, Mezzour added, there is an increasing need for such batteries.
With a combined 700,000 production capacity, Morocco is home to manufacturing facilities for Stellantis and Renault. Inside three to four years, he stated, “we are aiming for 1 million.”
Over the past seven years, exports by Moroccan automakers and component producers have outpaced phosphate sales as Morocco’s largest industrial exports.
Morocco’s automobile industry saw sales of $4.13 billion up to May of this year, an increase of 24%.
According to him, Morocco produces both the Dacia Sandero and Peugeot 208, the top- and second-selling vehicles in Europe.
Morocco intends to boost the proportion of locally created parts in the automobiles it exports to 80% from the current 65 percent to enhance competitiveness in the face of China and India, he added.
According to him, the country’s industrial innovation is driven by the aerospace and automobile industries.
Given that exports reached $877 million in May, up 61 percent from a year earlier, he predicted that the aerospace sector’s sales will surpass those seen before the COVID outbreak.
Collins Aircraft, the most recent significant investor, joined a group of international aerospace firms, including Boeing and Airbus, that imported components built in Morocco on Monday.
The agreement, which was announced alongside the Farnborough Airshow, would increase Moroccan aerospace suppliers’ income by $1 billion across all engine, cabin, fuselage, and wing part categories.
Morocco and GAL Aerospace agreed to establish a $12 million cabin interior facility during the same event.
According to Mezzour, the 140 aerospace industry facilities in Morocco can already produce 43% of an airplane’s parts.