On June 25, 2025, a Chinese-Moroccan joint venture inaugurated a new facility in Jorf Lasfar, Morocco. The facility is dedicated to producing electric vehicle (EV) battery components.
The venture, COBCO, is a collaboration between Al Mada, the Moroccan royal family's holding company, and China's CNGR Advanced Materials. The facility spans over 238 hectares and represents a total investment of approximately $2 billion.
The plant is expected to create over 1,800 direct jobs and an additional 1,800 indirect jobs. The project aims for an 80% utilization of Moroccan green energy by 2025, with plans to reach 100% by the end of 2026.