Guoxuan High-tech signed a memorandum of understanding with Moroccan investment institution CDG Group

Chinese electric vehicle battery manufacturer Guoxuan High-tech has signed a memorandum of understanding with Moroccan investment institution CDG Group. According to the memorandum, CDG Group plans to invest about 300 million euros (about 2.29 billion yuan) to support Guoxuan High-tech's project in Morocco. The project includes the production of power batteries, energy storage batteries, and positive and negative electrode materials, and is expected to create more than 2,000 local jobs.