GOTION Partners with CDG Group to Advance Project in Morocco

On November 13, GOTION Hi-Tech signed a Memorandum of Understanding (MoU) with CDG Group, a leading investment institution in Morocco. Under the agreement, CDG Group will support the first phase of GOTION’s Morocco project with a €300 million investment portfolio.

CDG Group is Morocco's largest public financial investment institution. According to the agreement, CDG will invest €300 million into the first phase of the GOTION project, which includes power batteries, energy storage batteries, and anode and cathode materials. This phase of the project is expected to create over 2,000 jobs in the local community.

Khalid Safir, Chairman of CDG Group, stated that Morocco aims to meet 50% of its electricity demand from renewable energy by 2030. With abundant solar and wind resources, Morocco looks to enhance its energy storage capabilities and improve the energy structure across Morocco and Africa. The GOTION Morocco project aligns with Morocco's sustainable transportation strategy and will help the country’s automotive sector transition to electric vehicles.

Li Zhen, Chairman of GOTION Hi-Tech, expressed confidence in the future of the project. He noted that CDG is a key supporter of Morocco’s national energy strategy. GOTION is committed to combining China’s technological innovations with Morocco’s rich solar and wind energy resources to provide green energy solutions. He also highlighted plans to bring GOTION's advanced production lines, technologies, and management practices to Morocco. This collaboration aims to make the project a model for Morocco’s energy transformation and a benchmark for the energy transition in Europe and Africa, contributing to global energy sustainability.

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