Morocco's Ministry of Industry has announced that the country is in talks with electric vehicle battery makers to build a factory in the country to match the existing auto industry and cobalt production.
The planned EV battery factory will "provide tremendous power for the local auto industry" and will benefit from the country's renewable energy sources and supplies of raw materials such as cobalt and phosphate.
There are about 250 car manufacturers and suppliers in Morocco, and over the past seven years, the automotive sector has ranked first among the country's industrial exports, surpassing exports of phosphates. As of May this year, Morocco’s auto industry sales were $4.13 billion, up 24% year-on-year.
