Morocco Venture Marks Significant Expansion Milestone

Source: www.gulfoilandgas.com 3/29/2024, Location: Africa

BTR New Material Group Co., Ltd. ("BTR")(835185.BJ), a global leader in battery materials, inked an investment agreement with the Moroccan government to erect a lithium battery ternary cathode material facility in the country. The venture aims to cater to the surging demand in global markets while broadening the battery material maker's international footprint. As part of the agreement, the project will be located in Tangier Technopark City, along Morocco's northern coast, dedicating its operations to the production of crucial lithium-ion battery materials. Construction is slated to commence in the second quarter of 2024. This landmark event was honored by the presence of Mr. Aziz Akhennouch, the Prime Minister of Morocco, and Mr. Li Changlin, the Chinese Ambassador to Morocco. They, alongside Mr. He Xueqin, the Chairman of BTR, heralded the commencement of this project.

BTR stands as the world's leading manufacturer of comprehensive battery material solutions. It has held the top spot in the global market share for anode materials for fourteen consecutive years, while its cathode materials have consistently secured a dominant stance within the sector. The company prides itself on its deep-seated technical expertise and unmatched production capabilities in the battery material spectrum. Amidst the escalating global demand for electric vehicles, BTR is developing a global strategic blueprint, aiming to establish a world-class production base for lithium-ion battery materials. Currently, it is in the midst of building an anode material base in Indonesia, representing the first venture of its kind outside China in the anode industry.

With its abundant mineral resources and strategic geographic location, Morocco has emerged as a pivotal part of BTR's internationalization strategy. Furthermore, Morocco stands out as one of the few economies globally that has concurrently inked Free Trade Agreements (FTAs) with both Europe and the United States, ensuring a seamless entry for the majority of its manufactured products into these regions.

Utilizing its leading-edge technology and extensive production experience, BTR aims to transform the North African facility into a sustainable, intelligent, and state-of-the-art production hub. BTR has already set up a subsidiary in the Mediterranean to steer the project and is in the process of recruiting a diverse group of technicians, engineers, and managerial talent from across the globe.


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