March 22, 2024
Aljiha Post
Chinese company Shinzoom, a global leader in the production of lithium-ion battery anodes, is set to build a new factory in the Tangier battery manufacturing zone.
Shinzoom’s investment in the project is estimated at 5 billion dirhams ($500 million) and will create more than 1,500 jobs. The factory will be built on a 30-hectare site and will produce anodes for lithium-ion batteries, primarily for electric vehicles and energy storage.
The new factory is expected to produce around 50,000 lithium-ion batteries per year, which will be used primarily in electric vehicles, portable electronics, electrical appliances, and renewable energy.
Shinzoom chose Morocco for this project due to the kingdom’s complete industrial chain of raw materials for lithium-ion batteries, including cobalt and phosphate, with phosphate reserves reaching 50 billion tons.
This new project is a significant step in strengthening Morocco’s position as a hub for the electric vehicle battery industry, attracting further foreign investment and creating new jobs.
