Join on WhatsApp
Join on Telegram
Rabat – Dutch automotive manufacturing company Stellantis and Morocco signed a new amendment agreement, seeking to strengthen cooperation and commitment both parties share to develop the automotive industrial sector.
Moulay Hafid Elalamy, Minister of Industry and Trade, and Samir Cherfan, Chief Operating Officer in Stellantis Middle East and Africa chaired the signing ceremony on Thursday, September 3, in Casablanca.
The agreement seeks to launch a new 100% electric car, enhance the capabilities of local suppliers, and boost the volume of purchases in Morocco to an estimated value of €2.5 billion.
Morocco and Stellantis want to see the value strengthened to €3 billion by 2025.
The agreement is also expected to provide 3,000 jobs to high-level engineers and technicians by 2022.
The partnership agreement is within the framework of activating the industrial partnership signed in June 2015 before King Mohammed VI. The collaboration seeks to develop an in-depth local integration, increase the competitiveness of supply, and also support investment efforts.
The COO of Stellantis, Cherfan, expressed satisfaction with the agreement.
He said that after exceeding the goals and objectives set forth in 2015, the new amended agreement aims at accelerating the development of the Moroccan automotive sector by contributing to the establishment of the Moroccan workforce and targeting the best competitiveness at the global level.
Kenza Alaoui, director of the Automotive Industry at the Ministry of Industry described the signing of the amendment as a “strategic step.”
She also emphasized the goal of decarbonization as Stellantis and its suppliers will produce their cars in plants that use green, carbon-free energy.
The new amendment followed Stellantis Group’s announcement to produce the Opel Rocks-e, a new electric vehicle that reflects the evolving mobility environment.
The production will take place at the Stellantis plant in Kenitra alongside the Citroen AMI.
Morocco has repeatedly expressed its willingness to increase efforts to support the automotive industry.
New data from the Foreign Exchange Office, the automotive industry revenue totaled over $5 billion in the first half of 2021.
The number shows an increase of 38% compared to the same period last year.
The growth in the industry was primarily driven by increases in sales of automobile wiring, car construction, and interior automotive parts.
