BTR New Material Group, a leading Chinese battery materials manufacturer, has announced plans to invest CNY2.6 billion (approximately $363.5 million) in the construction of an anode materials production facility in Morocco. The plant, to be located in the Mohammed VI Tangier Tech City, is expected to have an annual production capacity of 60,000 tons.
Ford Motor is expected to enter into a supply agreement with BTR. Ford will make an advance payment of USD 120 million. This information was disclosed by China Boan Group, BTR’s largest shareholder, although specific details of the agreement were not disclosed.
Construction of the new facility is expected to take approximately two years. This project is BTR’s second venture in the Mohammed VI Tangier area, having previously partnered with an investment fund to establish a CNY3.5 billion cathode materials plant. Construction of this 50,000 metric ton per year facility began in April.
BTR is also expanding its global footprint with ongoing projects in Indonesia, where it is developing a production base capable of producing 80,000 tons of anode materials annually. The company has maintained a dominant position in the global anode materials market with a market share of approximately 22 percent last year.
This strategic development strengthens BTR’s position as a major participant in the global supply chain for innovative battery technologies.
Source: BTR China, YicaiGlobal
