BTR invests 300 million euros in Cité Mohammed VI Tanger Tech
Signed by Moroccan Prime Minister Aziz Akhannouch, the CEO of BTR New Material, He Xueqin, and the Chinese ambassador to Morocco, Li Changlin, the project will provide more than 2,500 jobs. The creation of the base in the heart of Cité Mohammed VI Tanger Tech is expected to be completed in September 2026.
The completion of a landmark 3 billion dirham transaction marks the establishment of the first cathode production facility in Tangier. BTR is a market leader in battery material solutions, leading the anode market for 14 years and maintaining a strong position in the sector. By promoting innovation and sustainability, BTR New Material will deliver significant progress and a better future for all stakeholders.
According to BTR New Material CEO He Xueqin, who was present at the contract signing, the facility will produce around 50,000 tonnes of lithium-phosphate-iron cathode materials, which can power up to half a million electric vehicles.
Batteries are the most expensive component of electric vehicles, representing around 40% of the total cost, so projects such as the BTR in Tangier, with the implementation of the latest technology, will mean a drastic, but progressive, reduction in the price of electric vehicles and, therefore, greater accessibility for the average citizen.
This expansion aims to meet the growing global demand for electric vehicles and represents a milestone in our company's internationalisation efforts. Morocco is ideally positioned to effectively serve these markets thanks to its strategic location and its free trade agreements with Europe and the United States.
BTR, scheduled to start construction in the second quarter of 2024, aims to bring cutting-edge technology and expertise to the project to create a sustainable and smart manufacturing base in North Africa. Morocco's participation is a testament to the Administration's dedication to boosting the automotive industry and thus being able to meet the needs of customers around the world.
The project has the logistical and business support of the Regional Investment Centre of the Tangier-Tetouan-Al Hoceima region (CRITTA), in collaboration with local and national partners. Both CRITTA and the Government of Morocco play a crucial role in providing comprehensive support and guidance at all stages of this project. The company is scheduled to be officially registered in October 2024.
Morocco, the world's phosphate mine
Morocco has natural resources, especially phosphate reserves, which are important for the cathode industry. Phosphate, an important component in the production of lithium iron phosphate (LFP) cathodes, plays an important role in the development of industrial environments. The country has phosphate reserves of up to 50 billion tonnes, equivalent to at least 71% of the world's total.
According to data from the Moroccan Stock Exchange, the Moroccan automotive industry was worth 7 billion dollars a year at the end of June, representing a growth rate of 34%, as a result of the high exploitation and exploration of phosphate for the creation of batteries. Data from the Moroccan stock exchange show that the sector's export growth was also driven by increased demand in all areas of the automotive industry.
Thanks to its convenient location, just a few kilometres from Europe, the North African country continues to attract industrial workers working for car and electric vehicle manufacturers around the world. Manufacturers with factories in Morocco include Dacia, Renault and Peugeot, as well as Chinese manufacturer BYD and German manufacturer Volkswagen.
This project adds to the suite of programmes already in operation at Technopark Tangier and strengthens the region's position as a leading destination for high-quality investments, especially in the automotive and electrical sectors.