{"id":38122,"date":"2026-07-25T00:36:56","date_gmt":"2026-07-24T20:36:56","guid":{"rendered":"https:\/\/gbc1.net\/?p=38122"},"modified":"2026-07-26T01:04:07","modified_gmt":"2026-07-25T21:04:07","slug":"gotion-gets-afdbs-support-with-e100m-loan-for-its-lithium-battery-factory-in-morocco","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2026\/07\/25\/gotion-gets-afdbs-support-with-e100m-loan-for-its-lithium-battery-factory-in-morocco\/","title":{"rendered":"Gotion Gets AfDB&#8217;s Support with \u20ac100M Loan for its Lithium Battery Factory in Morocco"},"content":{"rendered":"\n<p>On 24 July 2026, the Board of the African Development Bank (AfDB) approved a EUR 100 million loan to Gotion Power to build the first Lithium Iron Phosphate (LFP) battery plant in Morocco. As lead arranger, AfDB will assist in mobilizing another EUR 141 million of financing from partners to support this strategic project.<\/p>\n\n\n\n<p>The total cost of the Project will require an investment of USD 1.3 billion for a gigafactory with a capacity of up to 20 GWh of battery cells and packs annually. The Project also integrates upstream activities, as it will produce its own anodes and cathodes onsite.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThis gigafactory will be a major catalyst for strengthening Morocco\u2019s industrial competitiveness and for accelerating its emergence as Africa\u2019s manufacturing hub for sustainable mobility industries. It will help foster an African industrial ecosystem for batteries and electric vehicles while promoting the local beneficiation of critical minerals essential to the energy transition.\u201d<\/p>\n<cite>AfDB Morocco Country Manager Achraf Tarsim<\/cite><\/blockquote>\n\n\n\n<p>In the first phase, the factory will employ more than 600 persons. In line with local content requirements, it will utilize 70% of goods and services sourced locally in Morocco to support the ecosystem. <\/p>\n\n\n\n<p>The Project is located at the Atlantic Free Zone in Kenitra, situated 60 kilometers north of Rabat. It occupies a total land area of 635 hectares, with Phase One taking up 156 hectares. The full plan projects to bring the production output up to 100 GWh of batteries annually, with total Foreign Direct Investments (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/fdi\/\">#FDI<\/a>) surpassing USD 6 billion, eventually.<\/p>\n\n\n\n<p>Taking advantage of its proximity with Europe, Gotion plans to export nearly 85% of its production to the European Union (EU) market. It is worth recalling that Morocco is one of the rare African countries with a Free Trade Agreement with both the EU and the USA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 24 July 2026, the Board of the African Development Bank (AfDB) approved a EUR 100 million loan to Gotion<\/p>\n","protected":false},"author":1,"featured_media":38132,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[14],"tags":[38],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.12 - 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