Rabat - Morocco has emerged as a new continental leader in the automotive sector.With free zones where corporate taxes as low as 8.75 percent have attracted several automotive giants, Morocco has overtaken South Africa in passenger vehicle production and is looking to become the home of Africa’s biggest motor industry overall.Plans to expand productionSouth African newspaper "Business Day" wrote that South Africa may be about to surrender its status as the home of Africa’s biggest motor industry.
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Rabat – Morocco has emerged as a new continental leader in the automotive sector.
With free zones where corporate taxes as low as 8.75 percent have attracted several automotive giants, Morocco has overtaken South Africa in passenger vehicle production and is looking to become the home of Africa’s biggest motor industry overall.
Plans to expand production
South African newspaper “Business Day” wrote that South Africa may be about to surrender its status as the home of Africa’s biggest motor industry.
New investments are planned to increase automotive production in Morocco, the source said. Morocco’s current production is 376,826 vehicles, and the kingdom is aiming to increase its annual production to 1 million vehicles within 10 years, while South Africa is aiming for 1.2 million by 2035.
“Renault, the original investor, has been joined by Peugeot-Citroen, while manufacturers from other countries are starting to take interest,” the paper pointed out. “Renault’s Tangier car plant is planned to have an eventual annual production capacity of 400,000 vehicles – nearly twice as many as South Africa’s largest.”
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