On November 13, 2024, in Hefei, Khalid Safir, Director General of Morocco’s Caisse de Dépôt et de Gestion (CDG), and Li Zhen, President of the Sino-European company Gotion High-Tech, signed a Memorandum of Understanding (MoU) marking a major partnership between the CDG Group and Gotion High-Tech. This agreement, reached during a CDG delegation visit to Gotion’s headquarters in China, positions Morocco at the forefront of sustainable mobility solutions in Africa.
CDG Invest steps into Gotion Power Morocco with industrial fund NAMA
Under the MoU, CDG Invest, the investment branch of CDG Group, will acquire equity in Gotion Power Morocco through its industrial investment fund, NAMA. This investment is a strategic step in bolstering Morocco’s burgeoning sustainable mobility sector and will support Gotion High-Tech’s ambitious Gigafactory project in Morocco.
Gigafactory project: An integrated platform for battery production
The flagship project, spearheaded by Gotion Power Morocco, involves the development of an integrated Gigafactory in Morocco. In its initial phase, the facility will boast a production capacity of 20 GWh for lithium-ion battery cells and packs, alongside Energy Storage System (ESS) batteries and 200,000 tons of cathode materials. This initial phase will require an estimated investment of around 13 billion Moroccan dirhams and is set to generate 2,300 jobs, creating a significant impact on the local economy.
Accelerating Morocco’s vision for sustainable mobility
This MoU follows a previous investment agreement signed between the Moroccan government and Gotion High-Tech on June 6, 2024. The Gigafactory aligns with Morocco’s strategic objectives to build a robust industrial ecosystem for sustainable mobility. With a focus on advancing the country’s electric vehicle (EV) sector, the project supports the strategic vision of His Majesty King Mohammed VI, who is committed to positioning Morocco as a leader in the renewable and sustainable energy sectors.
CDG Group’s role in Morocco’s economic transformation
Through this new partnership, CDG Group reaffirms its role as a leading institutional investor committed to advancing Morocco’s structural transformation. CDG’s involvement not only underscores its support for key national projects but also strengthens its position as a central player in Morocco’s economic evolution toward innovation-driven, sustainable industry.
