RIYADH: Morocco is close to joining the club of the world’s top 5 countries producing the value chain for electric vehicle batteries, according to what Moroccan Minister of Industry and Trade, Riad Mezzour, told Al-Eqtisadiah.
He explained that his country currently manufactures 40 percent of the battery’s value locally, with the complete chain, including the precursor, cathode, anode, separator, and battery management system, set to be finalized by the end of next year.
Integration with Saudi Arabia
The Moroccan Minister of Industry and Trade, speaking on the sidelines of the second day of the UN Industrial Development Organization conference in Riyadh, stated that his country does not consider Egypt and Saudi Arabia as competitors, but rather as partners in regional integration, while the real competition lies with India and China.
He added that Moroccan production costs are lower than China's and close to India’s, with the goal of achieving the best global cost by increasing the local integration rate to 80 percent by 2030. He noted that 87 percent of Moroccan exports are manufactured products.
New Saudi-Morocco deals
According to the Moroccan minister, discussions are underway to expand cooperation in the automotive industry, along with projects in pharmaceuticals, furnishings, and phosphates, expecting new agreements to be signed soon.
Mezzour confirmed the existence of strong partnerships with Saudi Arabia, particularly in renewable energy and heavy industries such as aluminum and metals.
Mezzour said that the value of industrial transactions in Morocco amounts to $90 billion annually, led by the automotive industry, which produces one million cars per year with a local integration rate reaching 69 percent.
He indicated that automotive production capacity will rise to 1.5 million, then 2 million cars before 2030, supported by the expansion of industrial investments and the localization of suppliers.
Aviation revenues hit $2.8bn
Morocco comprises 150 companies in the aviation sector with revenues of €2.5 billion ($2.8 billion), employing 26,000 engineers and technicians, with expectations for this number to triple within 5 years.
He revealed a strategic project to produce 350 engines for the “Airbus A320 Neo” annually, representing a significant percentage of the global production of 1000 engines per year, a level achieved by only 4 or 5 countries worldwide.
He pointed out that there are hundreds of projects in Morocco besides battery projects, including green hydrogen, renewable energy, phosphates and fertilizers, food, pharmaceutical, electronic industries, and metals.
