Morocco Emerges as a LFP Battery Hub for Chinese Companies
In recent years, LFP batteries have gained significant traction in the Chinese market, with the current market penetration reaching 70%. Morocco is the world''s largest
Huayou Cobalt and LG Energy Solution will co-build a plant in Morocco, one for 50,000 tons of LFP annually and another for 52,000 tons of lithium conversion annually. In addition to abundant phosphate reserves, Morocco also possesses metal resources like cobalt and lithium needed for battery production and has cost advantages.
Morocco holds 71% of the world's phosphate reserves and is rich in cobalt resources, providing core raw materials for lithium iron phosphate and ternary batteries. Coupled with its geographical advantage of being close to Europe and supportive policies, several Chinese battery companies have deeply established themselves in the Moroccan market.
The first phase of the project is expected to create over 2,000 jobs. In terms of energy storage projects, Morocco is actively introducing battery energy storage systems (BESS) to complement renewable energy. Several Chinese companies are involved in this.
The Chinese battery projects include at least three joint ventures and several that reference Morocco's trade ties with the United States. The largest among them is Chinese-German battery-maker Gotion High-Tech, which signed a deal with Morocco last year for $6.4 billion investment to construct Africa's first electric vehicle battery factory.
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