(Information sent by the signatory company)
RABAT, Morocco, March 29, 2024 /PRNewswire/ — On March 29, 2024, BTR New Material Group Co., Ltd. (“BTR”) (835185.BJ), a global leader in battery materials, signed a investment agreement with the Moroccan government to build a ternary cathode material facility for lithium batteries in the country. The company aims to meet growing demand in global markets while expanding the battery materials manufacturer’s international presence. As part of the agreement, the project will be located in Tangier Technopark City, along the northern coast of Morocco, and will dedicate its operations to the production of crucial materials for lithium-ion batteries. Construction is scheduled to begin in the second quarter of 2024. This historic event was attended by Aziz Akhennouch, Prime Minister of Morocco, and Li Changlin, Chinese Ambassador to Morocco. They, together with He Xueqin, president of BTR, announced the start of this project.
BTR is the world’s leading manufacturer of comprehensive battery materials solutions. It has held first place in global market share for anode materials for fourteen consecutive years, while its cathode materials have consistently secured a dominant position within the sector. The company prides itself on its deep technical expertise and unmatched production capacity across the spectrum of battery materials. Amid growing global demand for electric vehicles, BTR is developing a global strategic plan, aiming to establish a world-class production base for lithium-ion battery materials. It is currently building an anode material base in Indonesia, marking the first such venture outside China in the anode industry.
With its abundant mineral resources and strategic geographical location, Morocco has become a fundamental part of BTR’s internationalization strategy. Furthermore, Morocco stands out as one of the few economies worldwide that has simultaneously signed Free Trade Agreements (FTA) with Europe and the United States, which guarantees smooth entry for the majority of its manufactured products in these regions.
Using its cutting-edge technology and extensive production experience, BTR aims to transform the North African facility into a sustainable, smart, state-of-the-art production hub. BTR has already created a subsidiary in the Mediterranean to lead the project and is in the process of recruiting a diverse group of technicians, engineers and management talent from around the world.
About BTR
BTR New Material Group Co., Ltd., a subsidiary of China Baoan Group Co., Ltd., was established in August 2000. BTR was listed on the Beijing Stock Exchange in October 2021 with the stock code: 835185.BJ .
At the forefront of research and development of renewable energy materials, BTR is distinguished by its continuous technological innovation. With its advanced technologies, complete product line and extensive industrial chain, BTR serves a renowned domestic and international customer base. The company’s key offerings include anodes, cathodes and other innovative materials for lithium-ion batteries, ensuring its dominant position in the industry.
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