Morocco secures AfDB $110‑$114 million loan for Africa’s first EV battery gigafactory

The African Development Bank approved a loan of roughly $110 million (about €100 million) to Gotion Power Morocco for the construction of Africa’s first integrated electric‑vehicle battery gigafactory in the Rabat‑Salé‑Kénitra Free Trade Zone. The facility will initially produce 10 GWh of lithium‑iron‑phosphate (LFP) cells and packs, with plans to scale to 100 GWh, creating more than 600 direct jobs and targeting a 70 % local industrial integration rate. In addition to the core loan, the AfDB will mobilise up to $162.6 million from development partners under its New African Financial Architecture for Development, acting as lead arranger. The project is intended to boost Morocco’s electric‑vehicle sector, support renewable‑energy integration and contribute to climate‑resilient industrial growth in the region.