Morocco secures $114 million loan to build Africa’s first EV battery factory
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Source: AP News
Published: 2026-07-25 01:15 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Transport, Property, Africa, Economy & Finance
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Snippet:
NAIROBI, Kenya (AP) — The African Development Bank (AfDB) has approved a $110 million loan to support the construction of Africa’s first gigafactory in Morocco, backing the continent’s push to build a domestic electric vehicle battery industry.
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