Sino-Moroccan COBCO begins producing EV battery materials
Sino-Moroccan company COBCO said on Wednesday it had begun production at a plant for lithium-ion battery components in Jorf Lasfar, 125km south of Casablanca.
COBCO is a joint venture between Moroccan investment fund Al Mada and CNGR Advanced Materials, a battery materials producer.
Morocco's proximity to Europe, automotive industry, free trade deals, and available phosphates and cobalt make it attractive to Chinese EV battery makers.
In a first phase, the plant will produce two key components for lithium-ion batteries: nickel-manganese-cobalt (NMC) and precursor cathodes (pCAM), COBCO said in a statement.
The materials will be produced from nickel, cobalt and manganese, which are key components for EV batteries and stationary energy storage, it said.
Ultimately, the $2bn (R35.17bn) plant targets an annual capacity equivalent to 70 gigawatt-hours, enough to equip 1-million vehicles, a source close to the project told Reuters.
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