On March 29, 2024, Betre and the Moroccan government signed an investment agreement in Rabat, setting up a project company in Morocco to invest in the construction of a lithium battery cathode material project, meet market demand, and expand overseas market share.

According to the agreement between the two parties, the Betre Mediterranean project is located in the Tangier Science and Technology Park in Morocco, and will build a positive electrode material manufacturing plant to produce key materials for lithium-ion batteries in stages. Construction is expected to start in the second quarter of 2024.

At the signing ceremony, both parties had a comprehensive and in-depth discussion on the trends in the global new energy market, the growth prospects of Morocco's new energy industry, Betre's globalization strategy deployment, and technological innovation. Moroccan Prime Minister Aziz Ahnoush highly praised Betre's globalization strategy and expressed full support for Betre's project construction in Morocco, promoting cooperation between the two sides to achieve more fruitful results.

Betray Chairman He Xueqin stated that Betray will leverage its innovation capabilities and manufacturing experience to build North Africa's first ternary cathode project, turning the Mediterranean project into a green and intelligent high-level production base, creating a benchmark base for Chinese companies in battery materials in North Africa, further strengthening global supply chain construction, and contributing wisdom and strength to promoting global low-carbon energy development.

Morocco, as the first country in North Africa to jointly build the the Belt and Road cooperation plan with China, has rich raw material resources, superior geographical location, stable political and economic environment, and friendly foreign trade policies, which provide unique conditions for bilateral cooperation. Against the backdrop of increasingly fierce competition in the global new energy market, Betray understands that only by keeping up with global market trends can it stand out in this competition. The company will continue to deepen its global strategic layout, strengthen communication and collaboration with partners from various countries, jointly promote innovation and development of new energy technologies, and contribute more to the global green energy industry.Editor/Zhang Liyuan