Morocco is attracting a number of international automotive giants as the North African country grows into its reputation as the gateway to Africa.
Rabat – Global automotive parts supplier Yazaki is planning to open a new plant in Morocco in January 2020.
The Japenese company is planning to strengthen its presence in Morocco with a fourth plant in Kenitra near Rabat.
The plant is also seeking to open job opportunities to 2,500 people. This will bring the total workforce hired by the company to more than 12,500, L’ Econolmiste reported.
In an interview with the French-speaking news outlet, senior managing director, and general manager of Automotive Business Management Division Hiroshi Ichikawa said that the company invests in Morocco because it has customers in Spain
“To get closer to them, we had to have a production base. Morocco presented itself with a competitive offer including several incentives in addition to an industrial free zone,” he said.
He added that the business is going “very well” in Morocco.
Ichikawa said that the Renault site in Tangier and the PSA group plant in Kenitra are Yazaki’s customers.
“We have been working with them for many years,” he said.
The automotive industry is one of the pillars of Morocco’s economy. In April, Morocco’s Ministry of Industry said that the automotive industry recorded the strongest job creation.
The sector created 116,611 jobs between 014 and 2018, representing 28.8 percent of all new jobs in the time period.
In 2018, the Wall Street Journal reported that Morocco is becoming a key supplier for European auto factories, “including Ford Motor Co.’s F 0.22% high-tech plant in Valencia, Spain, which imports car seats, interiors, wiring and other components from Morocco.”
Recently, Morocco has attracted several investors to build plants making car parts, including Nexteer, Gestamp, Ficosa and Fiat subsidiary Magneti Marelli.