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Chinese battery components manufacturer CNGR Advanced Material and the African private investment firm Al Mada have unveiled plans to establish an industrial hub in Jorf Lasfar, Morocco. This project will entail an investment of $2 billion. This collaborative endeavor was officially disclosed through a joint statement by the two firms. The two entities are currently engaged in negotiations with Moroccos state-owned phosphates and fertilizer enterprise, OCP, to secure the essential phosphates required for their production processes. Commencement of production is slated for 2025, with an annual capacity projected to outfit over 1 million electric vehicles (EVs). The production is predominantly earmarked for export. Morocco boasts abundant phosphate resources, a vital ingredient in the fabrication of lithium ferrophosphate (LFP) cells indispensable for EVs. The venture intends to develop precursor materials for nickel-co bait-manganese (NCM) batteries, alongside manufacturing units for LFP cathodes and recycling facilities dedicated to battery materials. |
