Chinese battery groups invest in Morocco to serve western markets
North African country emerges as bridge to US and Europe that reduces risk for producers.
Harry Dempsey for the The Financial Times
September 27, 2023
Harry Dempsey from The Financial Times mentions the challenges that Electric Vehicle companies face in Europe and the US especially because of the IRA and EU legislation. In this context, Morocco appears as a “sweet spot”. As a part of its strategy, CNGR has invested in Morocco with Al Mada in order to build a plant that produces cathode materials. In this article, Harry Dempsey also quotes CNGR Europe’s CEO Thorsten Lahrs about the company’s strategy to strengthen the battery supply chain in Europe.