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Rabat – Vehicle manufacturer Stellantis has announced an investment of over €300 million in its Kenitra manufacturing facility in a bid to double local production capacity to 400,000 vehicles and reach more than 22% market share in the MENA region by 2030.
Stellantis plans to produce one million vehicles per year by 2030, with more than 70% local integration. The company’s recent investment underlines this vision by launching a “smart car” platform in Kenitra.
The platform is expected to produce 50,000 electric vehicles per year including Citroen Ami and Opel Rocks-e models. The Kenitra-based platform intends to represent 40% of MENA’s mobility offerings by 2030.
Stellantis’ investment in Morocco’s automotive industry responds to growing international demands for e-mobility solutions given the surge in fossil fuel prices and the increasing call for green solutions.
Morocco has expressed interest in capitalizing on this situation by upgrading its automotive ecosystem and introducing competitive hybrid and electric vehicles in partnership with local and multinational partners such as Stellantis and Renault.
With Stellantis announcing a “new milestone” for its operations in Morocco, the company “reinforces electric vehicle production capabilities in our country and comforts our determination to be a key player in sustainable mobility [and] illustrates the positioning of the Kingdom as one of the most competitive carbon free automotive industrial platforms worldwide,” said Morocco’s Minister of Industry and Trade Ryad Mezzour.
Read Also: Morocco to Scale Up Electric Car Production Over Next Two Years
According to Stellantis’ Chief Operating Officer in the Middle East and Africa Samir Cherfan, the company’s partnership with Morocco’s government has been vital to “positioning Kenitra as a leading Stellantis industrial site and in converting it into a key contributor of our bold ambition in the Middle East and Africa region.”
Echoing Cherfan’s comments, Stellantis CEO Carlos Tavares stated that the new investment serves the company’s growth strategy that aims to reach a “number one position in the market and double-digit margin.”
In addition to pursuing economic gains, Stellantis argued that it is supporting Morocco’s energy transition by adopting energy optimization systems in its facilities with a plan to introduce renewable energies soon.
The company further stated that it is set to create 2,000 new job opportunities through its recent investments with the recruits expected to receive upskilling training.
