China EV Battery Maker to Build Cathode Plant in Morocco

A general view of Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. REUTERS/Youssef Boudlal/File Photo
A general view of Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. REUTERS/Youssef Boudlal/File Photo
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China EV Battery Maker to Build Cathode Plant in Morocco

A general view of Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. REUTERS/Youssef Boudlal/File Photo
A general view of Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. REUTERS/Youssef Boudlal/File Photo

The Moroccan government gave the green light on Friday for Chinese electric battery maker BTR New Material Group to build a factory near Tangier to produce key component cathode.
The plant, to be built at a cost of 3 billion dirhams ($300 million), will have a production capacity of 50,000 tons, Morocco’s investment ministry said.
The first output of 25,000 tons is expected in September 2026, the ministry said in a statement following the signing of the investment deal with BTR.
Moroccan officials have often pitched the country as a good location for EV battery factories because of its existing auto industry and renewable energy sectors, and the presence of raw materials including cobalt and phosphates.
Stellantis-owned Citroen has a plant in Kenitra in northwest Morocco with capacity to produce 50,000 supermini electric cars, while Renault and Stellantis-owned Peugeot make combustion-engine cars in Morocco, which is also a base for a cluster of car parts makers.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
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E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."