The African Development Bank approves financing to build a lithium iron phosphate battery plant, targeting 10GWh initial capacity for electric vehicles.
The African Development Bank Group has approved a €100m ($114m) loan to fund an integrated lithium iron phosphate battery giga-factory in Morocco’s Rabat-Salé-Kénitra Free Trade Zone. The project, led by Chinese manufacturer Gotion High-Tech, aims to produce 10GWh of battery cells and packs in its first phase, with plans to scale to 100GWh.
The initiative aligns with the AfDB’s strategy to boost industrialization and regional integration, targeting a 70% local industrial integration rate. It also seeks to create over 600 direct jobs and position Morocco as a key player in global green technology supply chains.
An additional €141m in funding may be mobilized from other partners, with the AfDB acting as Mandated Lead Arranger. The project supports electric mobility and skills development in the region.