AfDB approves $114m loan for Morocco battery plant
The African Development Bank (AfDB) has approved a €100 million ($114 million) loan to Gotion Power Morocco, a subsidiary of Chinese battery manufacturer Gotion High-Tech, to build an integrated lithium iron phosphate (LFP) battery giga-factory in the Rabat-Salé-Kénitra Free Trade Zone in Morocco. The AfDB also plans to mobilize an additional €141 million from other partners. The first phase of the project will produce 10 GWh of battery cells and packs for electric vehicles, with a long-term goal of reaching 100 GWh total capacity. The project aims to strengthen Morocco's role as an electric mobility hub and integrate it into global green technology supply chains. It is expected to create over 600 direct jobs in the initial phase and achieve a 70% local industrial integration rate. The AfDB stated the project aligns with its Four Cardinal Points vision, focusing on resilient infrastructure, value addition, industrialization, and regional integration.
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