Technext· 2h ago· 1 min read
The Board of Directors of the African Development Bank Group ( AfDB ) has approved a €100 million loan to finance a major electric vehicle battery gigafactory in Morocco. This was disclosed in a statement seen by Technext.
The loan was awarded to Gotion Power Morocco for the development of an integrated cathode-to-cell lithium iron phosphate (LFP) battery gigafactory in the Rabat-Salé-Kénitra Free Trade Zone.
See also: ‘Nigeria’s ATM card is the safest in the world’, top cybercrime chief, AIG Uche Ifeanyi says
The Bank also plans to mobilise up to an additional €141 million from financial partners to support the implementation of this strategic project, acting as Mandated Lead Arranger under the New African Financial Architecture for Development (NAFAD).
Speaking about the development, the African Development Bank’s Vice President for Power, Energy, Climate and Green Growth, Kevin…
Continue reading at TechnextDiscussion
Be the first to comment.
Never miss a headline
Get breaking Nigerian and world news straight to your inbox.
Related Articles
As US weighs response to Chinese AI, industry urges against broad open-weight restrictions
10m ago
Read More
This is the world's most advanced robotic servicing satellite—that we know about
39m ago
Read More
Rocket Report: Lightning strikes in China; Starship launch on deck
1h ago
Read More
AI firms want more data centers; Trump's EPA may give neighbors less say
2h ago
Read More
Which of your old cables are actually worth keeping?
32m ago
Read MoreRivian sues the US government for ‘full refund’ of Trump tariffs
45m ago
Read MoreLatest in Technology
Tesla’s car door defect could lead to tougher rules for everyone
The Verge · 48m ago
Bluesky’s AI assistant Attie expands into an open social research tool
TechCrunch · 48m ago
One of the best 2-in-1 Chromebooks is almost $200 off for today only
The Verge · 51m ago
Midjourney acquired the astrology app Co-Star
TechCrunch · 52m ago
Silicon Valley Is Completely Divided Over Chinese AI
Wired · 1h ago
Tunde Onakoya, Sam Otigba, and Hack Sultan launch ₦250m fund to equip new graduates with tech skills
Technext · 1h ago
Boox is taking on Xteink with its own tiny e-reader
The Verge · 1h ago
The tech-broification of American science has officially begun
The Verge · 1h ago
Most Read Today
US lawmaker seeks Nnamdi Kanu’s release
Punch · 7h ago
Ukraine drone attack hits Russia’s Amazon warehouse
Punch · 9h ago
26-year-old quit her corporate job to become a seamstress at Yellowstone National Park for $19.25/hour
CNBC · 5d ago
‘The Odyssey’ Sets Record Critics’ Score For Nolan’s Films On Rotten Tomatoes
Forbes · 5d ago
Aggrieved APC Aspirants In Ondo, Benue Challenge NWC’s Decision In Court
New Telegraph · 7d ago
SpaceX moves Starship launch attempt to Thursday
Investing.com · 5d ago
Kano govt declares ‘Daba’ illegal, orders crackdown on practice
Daily Post · 8h ago
AI may make you 'boring' at work, Columbia Business School professor says: How it can hurt your career
CNBC · 5d ago