AfDB Approves €100 Million Loan for Africa’s First EV Battery Gigafactory in Morocco

AfDB approved a €100 million loan for Africa's first EV battery gigafactory in Morocco.

Gotion Power Morocco leads the plant, targeting an initial 10 GWh annual capacity.

The facility will create over 600 jobs and target 70% local industrial integration.

The bank will also mobilize €141 million in co-financing from external partners.

AfDB Approves €100 Million Loan for Africa’s First EV Battery Gigafactory in Morocco

AfDB approved a €100 million loan for Africa's first EV battery gigafactory in Morocco.

Gotion Power Morocco leads the plant, targeting an initial 10 GWh annual capacity.

The facility will create over 600 jobs and target 70% local industrial integration.

The bank will also mobilize €141 million in co-financing from external partners.

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