BTR, which produces cathode and anode materials for lithium-ion batteries as part of the China Baoan Group, anticipates earning around $1.2 billion annually from its Moroccan facilities when production begins next year. This projection was shared by Peter Yang, who serves as BTR’s General Manager in Morocco, during an interview with Asharq Bloomberg.
The firm is presently building two plants inside the Mohammed VI Tangier Tech Industrial City, covering a total area of 486,000 square meters. According to Yang, these units will collectively produce 50,000 tons of cathodes and 60,000 tons of anodes each year, backed by an investment totaling $750 million.
Yang further pointed out that Morocco is making significant progress in cultivating its electric vehicle battery industry via multiple projects spearheaded by both Chinese and domestic firms, with the nation’s inaugural battery plant set to commence operations next month.
The same source highlighted that these initiatives are geared towards bringing Morocco up to speed with the worldwide shift of the automotive sector toward electric vehicles.
Highlighting the magnitude of these initiatives, Yang informed Asharq that they cover the whole value chain, fostering a completely integrated industrial ecosystem.
Once production starts in the second quarter of next year, BTR’s output will be enough to provide parts for approximately 500,000 electric vehicles each year, with most of these being exported.
Recognized as a key international supplier for leading electric vehicle companies like China’s BYD and Tesla, BTR entered into a $300 million investment pact with the Moroccan authorities last year to finance the first stage of their initiative.
The
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The company will oversee the investment and construction stages, while the ongoing operational activities will be handled by a project firm set up by BTR’s subsidiary, Buno International Holding, in Morocco.
Morocco is emerging as a significant participant in the electric vehicle sector, attracting investments from Chinese firms to set up manufacturing plants there.
These investments amount to billions of dollars, boosting the nation’s economy and expanding employment prospects.
This positions the kingdom as a crucial participant in the electric vehicle manufacturing sector, placing it strategically between Western and Eastern markets.
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The Chinese group BTR anticipates approximately $1.2 billion in yearly income from their activities in Morocco.
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