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project","moroccan-government-approves-300-million-btr-cathode-project","article/moroccan-government-approves-300-million-btr-cathode-project",{"_uid":547,"date":548,"tags":549,"editor":565,"content":575,"excerpt":722,"featured":51,"reporter":723,"_editable":727,"component":728,"seo_title":543,"categories":729,"visibility":741,"author_company":49,"featured_image":742,"seo_description":722,"author_full_name":49,"author_job_title":49,"formattedDate":748,"formattedArticleDate":749},"bd5fab79-c382-4a7b-b847-b917e9681ba7","2024-04-09 00:00",[550,553,556,559,562],{"slug":551,"name":552},"africa","Africa",{"slug":554,"name":555},"china","China",{"slug":557,"name":558},"european-union","European Union",{"slug":560,"name":561},"morocco","Morocco",{"slug":563,"name":564},"policy","Policy",[566],{"slug":567,"name":568,"content":569},"matthew-bird","Matthew Bird",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Senior Editor - Supply Chains & Data Visualisation",{"filename":572},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":576,"content":577},"doc",[578,585,590,595,600,607,612,617,622,627,632,637,642,647,652,657,662,667,672,677,682,687,692,697,702,707],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582],{"text":583,"type":584},"BTR’s planned Moroccan cathode facility can enter construction after obtaining government approval, advancing the Chinese battery producers’ plans to move closer to the crucial European market.","text",{"type":579,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":584},"BTR’s planned nickel cathode facility in Tangiers is the first Chinese battery project to gain permission from the Moroccan government.",{"type":579,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":584},"The approval came in the form of an investment deal signed at a ceremony attended by the country’s prime minister Aziz Akhannouch and the company’s chairman He Xueqin.",{"type":579,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":584},"BTR first announced its planned 50,000 tonne capacity nickel cathode facility in December 2023, a year when Chinese battery supply chain investments to Morocco surged.",{"type":601,"attrs":602,"content":604},"heading",{"level":603,"textAlign":49},4,[605],{"text":606,"type":584},"Morocco’s mid- to downstream pipeline has developed rapidly thanks to Chinese investment",{"type":579,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":584},"Five other Chinese firms announced Moroccan capacity in 2023, keen to capitalise on the country’s privileged status as an EU and US free trade agreement (FTA) partner. ",{"type":579,"attrs":613,"content":614},{"textAlign":49},[615],{"text":616,"type":584},"The latter partnership allows materials produced there to be eligible for US Inflation Reduction Act (IRA) EV tax credits.",{"type":579,"attrs":618,"content":619},{"textAlign":49},[620],{"text":621,"type":584},"For some Chinese suppliers including BTR, the EU remains the more appealing market than the US, where Foreign Entity of Concern (FEOC) guidelines make it harder for Chinese battery and battery input companies to receive federal tax credits.",{"type":579,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":584},"“The US imposes more stringent sourcing requirements for batteries to access tax credits,” said Bryan Bille, policy analyst at Benchmark. “The EU market is more open to Chinese firms as it lacks the equivalent of the US FEOC guidelines, which disqualifies batteries from IRA benefits if Chinese entities hold a certain ownership stake in battery input suppliers.”",{"type":601,"attrs":628,"content":629},{"level":603,"textAlign":49},[630],{"text":631,"type":584},"Key facts about BTR’s planned Morocco facility",{"type":579,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":584},"BTR’s Moroccan nickel cathode facility, its first cathode project overseas, will be located on the Tangier Technopark City industrial park in Tangier Province. ",{"type":579,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":584},"BTR says it plans to begin construction in the second quarter of this year and aims to manufacture its first 25,000 tonnes at the site in September 2026, according to a Moroccan government statement. ",{"type":579,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":584},"Its total planned investment for the project is expected to be a maximum of RMB 3.5 billion dirhams ($483 million).",{"type":601,"attrs":648,"content":649},{"level":603,"textAlign":49},[650],{"text":651,"type":584},"Why is it important?",{"type":579,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":584},"Alongside BTR, Chinese battery and battery material companies CNGR, Huayou Cobalt, Gotion, and Guangzhou Tinci also announced their first Moroccan plants last year.",{"type":579,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":584},"This Chinese investment has meant the Kingdom has been able to build a midstream pipeline from scratch in a very short period, putting it on a path to becoming one of the fastest-growing emerging battery hubs in the world. ",{"type":579,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":584},"The Moroccan government’s approval of BTR’s project shows how quickly Chinese battery announcements are entering build-out. In this case, approval came just three months after the initial announcement. ",{"type":579,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":584},"The rapid project approval highlights strong existing economic ties between Morocco and China, countries with a long history of economic cooperation, including under the Belt and Road Initiative. ",{"type":579,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":584},"The investments support Morocco’s ambitions to become an EV manufacturing hub. With BTR’s factory set to create 2,500 jobs, the project also aligns with Morocco’s broader industrial growth targets under its economic plan, the New Development Model. ",{"type":579,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":584},"The BTR signing is likely to spur more Chinese-owned battery project approvals in Morocco over the coming months. The country’s industry and trade minister Ryad Mezzour has stated that negotiations are now ongoing with five other unnamed manufacturers to set up similar plants.",{"type":601,"attrs":683,"content":684},{"level":603,"textAlign":49},[685],{"text":686,"type":584},"Why are Chinese battery companies in Morocco? ",{"type":579,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":584},"Morocco’s appeal lies in its proximity to Europe and the US, which are critical outlets for Chinese battery materials companies facing market saturation and slowing demand at home. ",{"type":579,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":584},"The EU and the US are particularly important for Chinese battery companies that specialise in high-nickel cathodes, like BTR. These higher-range chemistries dominate the Western market while Chinese consumer preference is towards nickel-free lithium iron phosphate (LFP).",{"type":579,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":584},"However, with the EU and US pursuing battery sourcing diversification to lower the geopolitical risks of import dependence on China, Chinese companies are facing growing barriers to marketing their goods abroad.",{"type":579,"attrs":703,"content":704},{"textAlign":49},[705],{"text":706,"type":584},"To maintain access to Western markets, Chinese battery suppliers are opening capacity in countries with trade ties to the West, such as Morocco. ",{"type":579,"attrs":708,"content":709},{"textAlign":49},[710,712,720],{"text":711,"type":584},"LFP cells currently make up 49% of global cell chemistry capacity, whilst NCM chemistries make up 42%, according to ",{"text":713,"type":584,"marks":714},"Benchmark’s Lithium ion Battery Database",[715],{"type":716,"attrs":717},"link",{"href":718,"uuid":49,"anchor":49,"target":49,"linktype":719},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/","url",{"text":721,"type":584},".","BTR’s planned Moroccan cathode facility can enter construction after obtaining government approval, advancing the Chinese battery producers’ plans to move closer to the crucial European market. BTR’s planned nickel cathode facility in Tangiers is the first Chinese battery project to gain permission from the Moroccan government. The approval came in the form of an investment […]",[724],{"slug":567,"name":568,"content":725},{"job_title":570,"image":726,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"bd5fab79-c382-4a7b-b847-b917e9681ba7\", \"id\": \"\"}-->","article",[730,733,735,738],{"slug":731,"name":732},"batteries","Batteries",{"slug":734,"name":298},"cathode",{"slug":736,"name":737},"critical-minerals","Critical Minerals",{"slug":739,"name":740},"phosphate","Phosphate","private",{"id":49,"alt":743,"name":744,"focus":744,"title":743,"source":744,"filename":745,"copyright":744,"fieldtype":746,"meta_data":747,"is_external_url":51},"Tangier, Morocco","","https://a.storyblok.com/f/287943243085208/6dc475971c/bm-tangier-morocco.jpg","asset",{"alt":743,"title":743,"source":744,"copyright":744},"Apr 09, 2024","9th April 2024",[],[],1784908373308]