Chinese-Moroccan joint venture inaugurates EV battery parts plant
The complex will ultimately have a production "capacity equivalent to 70 GWh per year, enough to equip nearly one million electric vehicles annually", according to operator Cobco, a joint venture between the Moroccan royal family's holding company Al Mada and the Chinese firm CNGR Advanced Materials.
The first phase of the project will produce nickel-manganese-cobalt precursor cathodes, "essential components for batteries used in electric vehicles and stationary energy storage", Cobco said in a statement.
The venture will eventually comprise three "complementary" projects, it added, including a facility for refining critical metals and recycling old batteries.
China has become a global leader in electric vehicle battery production, while Morocco has recently invested heavily in renewable energy, which currently accounts for 38 percent of the electricity produced in the country.
Related Links
Powering The World in the 21st Century at Energy-Daily.com
