“The Gigafactory will consolidate Morocco's position as a future hub for electric mobility, thanks to the enlightened strategic vision of His Majesty King Mohammed VI,” emphasized Jazouli during a round-table discussion with media on the occasion of the signing of an investment agreement worth 12.8 billion dirhams for the creation of a complete industrial ecosystem for the manufacture of electric batteries in Kenitra.

The first phase of this ambitious project is expected to produce 20 GWh and have an export capacity of 20 billion dirhams, consequently creating 17,000 direct, indirect and induced jobs, including 2,300 highly-skilled jobs", explained the Minister.

“This capacity will eventually reach 100 GWh for a global investment of 65 billion dirhams,” he added, noting that it is the first electric battery Gigafactory in the Middle East & Africa region.

As for the choice of Morocco by the Gotion High tech group, Jazouli emphasized the Kingdom’s stability, thanks to the vision of HM King Mohammed VI, the youth of its population, the quality of its infrastructure and the free-trade agreements signed with several countries, all of which favor access to a major market and provide a base for exports.

“Today, we are reaping the rewards of His Majesty King Mohammed VI's Vision for renewable energies”, he underlined, noting that “thanks to this Vision, green energy is available in Morocco at an ultra-competitive price”.

On this occasion, the Minister stated that the Investment Charter provides a clear framework for investors and for the ever-improving business climate.

Referring to the project's economic benefits, particularly in terms of employment, value creation and foreign currency earnings, Jazouli noted that the future Gigafactory would help to safeguard jobs in the automotive sector, especially in view of the European Union's new regulations on electric mobility, which are due to come into force in 2035.

For this first Gigafactory, the Moroccan government decided to place its trust in the Sino-European actor, Gotion High-Tech, world leader in the electric battery sector, one of whose reference shareholders is the German Volkswagen group, which has made major investments in Europe, the United States and Asia, with almost 12 Gigafactories launched over the last two years to meet the huge global demand in the electric mobility sector.