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ecosystem","gotions-1-3-billion-gigafactory-investment-to-further-expand-moroccos-lithium-ion-ecosystem","article/gotions-1-3-billion-gigafactory-investment-to-further-expand-moroccos-lithium-ion-ecosystem",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":718,"featured":51,"reporter":719,"_editable":723,"component":724,"seo_title":543,"categories":725,"visibility":740,"author_company":49,"featured_image":741,"seo_description":718,"author_full_name":49,"author_job_title":49,"formattedDate":746,"formattedArticleDate":747},"65b2f70f-6c8e-454d-b114-23d3bc503b3b","2024-06-11 00:00",[550,553,556],{"slug":551,"name":552},"africa","Africa",{"slug":554,"name":555},"gotion","Gotion",{"slug":557,"name":558},"morocco","Morocco",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,588,601,618,631,641,646,653,658,663,676,688,693,698,703,708,713],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,579,586],{"text":577,"type":578},"Chinese cell maker Gotion High-Tech will invest 12.8 billion dirhams ($1.3 billion) to build a 20 gigawatt-hour (GWh) gigafactory in ","text",{"text":558,"type":578,"marks":580},[581],{"type":582,"attrs":583},"link",{"href":584,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://source.benchmarkminerals.com/article/how-saudi-arabia-and-morocco-are-shaping-the-ev-battery-supply-chain","url",{"text":587,"type":578},". The facility will be Africa’s first gigafactory.",{"type":573,"attrs":589,"content":590},{"textAlign":49},[591,593,599],{"text":592,"type":578},"This is just the latest of a recent surge of investments by Chinese companies into the ",{"text":594,"type":578,"marks":595},"burgeoning battery value chain",[596],{"type":582,"attrs":597},{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://source.benchmarkminerals.com/article/chinas-overseas-anode-push-expands-with-shinzooms-planned-morocco-plant",{"text":600,"type":578}," in Morocco.",{"type":573,"attrs":602,"content":603},{"textAlign":49},[604,609,611,616],{"text":555,"type":578,"marks":605},[606],{"type":582,"attrs":607},{"href":608,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://source.benchmarkminerals.com/article/gotion-targets-100-gwh-overseas-expansion-as-it-launches-german-battery-pack-plant",{"text":610,"type":578},", and other Chinese companies, have identified ",{"text":558,"type":578,"marks":612},[613],{"type":582,"attrs":614},{"href":615,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://source.benchmarkminerals.com/search/tag/morocco?items_per_page=12&page_offset=0&tags[]=morocco",{"text":617,"type":578}," as ideally suited for a gigafactory and other battery industry facilities due to its close proximity to Europe. The country also has free trade agreements (FTA) with both the European Union and the US.",{"type":573,"attrs":619,"content":620},{"textAlign":49},[621,623,629],{"text":622,"type":578},"“Morocco has significant phosphate reserves which can be used as feedstock for lithium iron phosphate (LFP) ",{"text":624,"type":578,"marks":625},"cathode material",[626],{"type":582,"attrs":627},{"href":628,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://source.benchmarkminerals.com/article/chinas-midstream-majors-flock-to-moroccos-fledgling-cathode-hub",{"text":630,"type":578},", alongside maintaining FTA status with the EU and US, which makes it an attractive base for new battery material projects,” Anya Sidhu, a gigafactory analyst at Benchmark, said.",{"type":573,"attrs":632,"content":633},{"textAlign":49},[634,639],{"text":555,"type":578,"marks":635},[636],{"type":582,"attrs":637},{"href":638,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://source.benchmarkminerals.com/article/the-big-get-bigger-in-batteries-top-ten-producers-set-to-grow-output-400",{"text":640,"type":578}," plans to begin production in the third quarter of 2026. The company may later increase the total capacity to 100 GWh with an investment of up to $6.5 billion. ",{"type":573,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":578},"This announcement shows that major cell and automakers still see long term battery demand prospects, despite recent gigafactory cancellations in China and Europe. German automaker Volkswagen has a 26% stake in Gotion.",{"type":647,"attrs":648,"content":650},"heading",{"level":649,"textAlign":49},4,[651],{"text":652,"type":578},"Morocco: The African gateway to Europe",{"type":573,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":578},"Morocco’s geography and geopolitical positioning make it a prime location for an emerging battery industry.",{"type":573,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":578},"“Morocco’s closeness to Europe means lower logistical costs for Chinese producers targeting this other growing market,” Sidhu said.",{"type":573,"attrs":664,"content":665},{"textAlign":49},[666,668,674],{"text":667,"type":578},"Although Morocco is well-placed to serve Europe, ",{"text":669,"type":578,"marks":670},"most investment is coming from China",[671],{"type":582,"attrs":672},{"href":673,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://source.benchmarkminerals.com/article/phosphate-concerns-drive-chinese-battery-investments-in-morocco",{"text":675,"type":578},". Morocco was the first North African country to sign on to implement the Belt and Road Initiative, China’s global infrastructure development program.",{"type":573,"attrs":677,"content":678},{"textAlign":49},[679,681,686],{"text":680,"type":578},"Investment from the initiative, and from Chinese companies, has led to ",{"text":682,"type":578,"marks":683},"Morocco fast emerging as a key player",[684],{"type":582,"attrs":685},{"href":584,"uuid":49,"anchor":49,"target":49,"linktype":585},{"text":687,"type":578}," in the global battery supply chain, with several major investments into the country by Chinese companies across the sector.",{"type":573,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":578},"Source:Benchmark Mineral Intelligence, company announcements",{"type":573,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":578},"Further downstream, Morocco has a strong automotive base: Renault, Stellantis, and BYD all have automotive plants in the country. The auto industry accounted for around a fifth of its GDP. In 2023, Morocco exported 64.7 billion dirhams ($6.4 billion) worth of passenger vehicles according to the country’s Office des Changes.",{"type":647,"attrs":699,"content":700},{"level":649,"textAlign":49},[701],{"text":702,"type":578},"Could US FEOC rules be an issue?",{"type":573,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":578},"Despite Morocco having an FTA with the US, Gotion’s position as a Chinese-owned country may mean it falls foul of the foreign entity of concern (FEOC) guidance contained which restricts access to certain tax credits if EVs use components or materials from companies with links to Chinese officials.",{"type":573,"attrs":709,"content":710},{"textAlign":49},[711],{"text":712,"type":578},"However, Gotion already has plans for cell and electrode production facilities in the US.",{"type":573,"attrs":714,"content":715},{"textAlign":49},[716],{"text":717,"type":578},"“Optimally, Gotion would be relying on its planned US facilities for regional supply, which would negate any need for concern surrounding FEOC,” Evan Hartley, a gigafactory analyst at Benchmark, said.","Chinese cell maker Gotion High-Tech will invest 12.8 billion dirhams ($1.3 billion) to build a 20 gigawatt-hour (GWh) gigafactory in Morocco. The facility will be Africa’s first gigafactory. This is just the latest of a recent surge of investments by Chinese companies into the burgeoning battery value chain in Morocco. Gotion, and other Chinese companies, […]",[720],{"slug":561,"name":562,"content":721},{"job_title":564,"image":722,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"65b2f70f-6c8e-454d-b114-23d3bc503b3b\", \"id\": \"\"}-->","article",[726,729,731,734,737],{"slug":727,"name":728},"batteries","Batteries",{"slug":730,"name":298},"cathode",{"slug":732,"name":733},"critical-minerals","Critical Minerals",{"slug":735,"name":736},"gigafactories","Battery & Gigafactory",{"slug":738,"name":739},"phosphate","Phosphate","private",{"id":49,"alt":742,"name":742,"focus":742,"title":742,"source":742,"filename":743,"copyright":742,"fieldtype":744,"meta_data":745,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/6732880a50/bm-gotion-1.jpg","asset",{"alt":742,"title":742,"source":742,"copyright":742},"Jun 11, 2024","11th June 2024",[],[],1783682671022]