CDG and Gotion High-Tech Sign MoU to Support Electric Battery Gigafactory in Kenitra

The Deposit and Management Fund (CDG) and Gotion High-Tech group have signed a memorandum of understanding (MoU) to support the electric battery gigafactory currently under development in Kenitra, Morocco. The MoU was signed on Wednesday in Hefei, China, by CDG's CEO Khalid Safir and Gotion High-Tech's Chairman Li Zhen. According to a press release from the Moroccan group, CDG Invest, the investment arm of CDG, will acquire a stake in Gotion Power Morocco through its NAMA industry fund.

This MoU follows an earlier investment agreement signed on June 6 between the Moroccan government and the Sino-European group, and it was concluded during a working visit by a CDG delegation to Gotion High-Tech's headquarters in Hefei. The gigafactory project is part of Morocco's broader strategy to develop a sustainable mobility industrial ecosystem, aligning with the strategic vision of King Mohammed VI to prepare the Moroccan automotive sector for the era of electrification.

Led by Gotion Power Morocco, the project will involve building an integrated gigafactory platform, with the first phase including a production capacity of 20 GWh of lithium-ion battery cells and packs, Energy Storage System (ESS) batteries, and 200,000 tons of cathode materials. The first phase requires an overall investment of approximately 13 billion dirhams ($1.3 billion) and is expected to create 2,300 jobs.

The partnership between CDG and Gotion High-Tech reaffirms CDG's role as a key institutional investor supporting Morocco's major structural projects. This collaboration strengthens CDG's contribution to the dynamic transformation of the national economy by fostering the growth of critical infrastructure for the sustainable energy sector.