Pressdia Ad

Morocco Secures $5.6 Billion Chinese Investment for Africa’s First Battery Gigafactory

Morocco is set to host Africa’s first large-scale battery gigafactory following a landmark $5.6 billion investment deal with Chinese partners, media outlets including Reuters and Africa Intelligence reported on Friday.

The facility, to be located in Kenitra near Rabat, is expected to produce lithium-ion batteries for electric vehicles and renewable energy storage. Insiders cited by Bloomberg noted that the project will give Morocco a critical foothold in the global energy transition, leveraging its growing role as a hub for green industrial supply chains.

The Ministry of Industry highlighted that the deal builds on Morocco’s strong trade ties with China, while aligning with the kingdom’s climate and economic diversification agenda. Analysts told Financial Times that this investment could transform Morocco into a strategic battery manufacturing base, supplying both European and African markets.

Industry observers also stressed that the initiative will create thousands of jobs and spur local demand for mined raw materials, potentially drawing further upstream investment into Africa’s mineral sector.

The gigafactory is scheduled to begin phased construction in 2026, with the first production lines expected to be operational by 2028.

Pressdia Ad

Subscribe to Newsletter

Get the latest in luxury, business, and elite trends—subscribe now!

Pressdia Ad

Subscribe

Latest Posts

Marriott Expands Egypt Footprint as Tourism Boom Fuels Hospitality Investment

Marriott International is strengthening its presence in Egypt as the world’s...

Renault Posts Record Sales in Morocco as Africa’s Leading Automotive Hub Strengthens

France’s largest carmaker, Renault Group, has recorded its highest-ever vehicle sales...

Cabo Verde World Cup Hero Vozinha Secures Move to Chilean Giants Colo Colo

Cabo Verde international goalkeeper Vozinha has secured an 18 month contract...

Tinubu Approves Nigerian Army Expansion to 12 Divisions With 28,000 New Recruits

President Bola Tinubu has approved a major expansion of the Nigerian...

AfDB Approves $114 Million Loan to Advance Morocco’s Battery Gigafactory Ambitions

The African Development Bank (AfDB) has approved a €100 million ($114...

Ecuador–Canada Trade Deal to Make 99.6% of Exports Tariff-Free

Ecuador and Canada have signed a landmark Free Trade Agreement (FTA)...

Black Market Targets Guinness World Record With Star-Studded Nollywood Cast

Leading Nollywood actors Lateef Adedimeji and Linda Ejiofor-Suleiman will headline Black...

Preserving African Craftsmanship Through Contemporary Luxury — KÍLÉNTÁR

Founded in 2019 by British Nigerian designer Michelle Adepoju, KÍLÉNTÁR is...

Assemble Summit 2026 to Inspire Young Professionals to Build Beyond Barriers in Lagos

As Nigeria’s next generation of entrepreneurs, professionals, and innovators navigate an...

Related Posts

Renault Posts Record Sales in Morocco as Africa’s Leading Automotive Hub Strengthens

France’s largest carmaker, Renault Group, has recorded its highest-ever...

Ecuador–Canada Trade Deal to Make 99.6% of Exports Tariff-Free

Ecuador and Canada have signed a landmark Free Trade...

LEAVE A REPLY

Please enter your comment!
Please enter your name here