The first Moroccan car will see the light of day in early 2023 with an investment of 50 million euros. An investment agreement of 50 million euros will be signed in January 2023 for the creation of a production plant for a local brand of cars.
The information was announced by the Minister of Industry and Trade, Ryad Mezzour, in a statement to the Saudi newspaper “Asharq”. The minister noted that the new factory will be set up thanks to a 100% Moroccan investment, to be added to the industrial units of Renault and Stellantis, which have an annual production capacity of 700,000 cars, including 50,000 vehicles. electrical.
This first Moroccan investment will have an annual production capacity of 3,000 cars, before reaching a rate of 20,000 vehicles following 4 years, indicated Mezzour, adding that the announcement of the brand of the new car is up to the investors. The new brand is currently in the final licensing stage following successfully passing all the tests and trials, he said, noting that the production will be for the local market at first.
A 100% electric Renault made in Morocco
The factory, which does not provide for a production line for electric cars, will only produce fuel-powered cars, said the Moroccan minister, noting that 50 million euros will be invested over 3 years, excluding operating costs.
The automotive industry is Morocco’s second-largest export sector, sales in 2022 reached $8.4 billion through the end of October, while the Banque du Maroc forecasts revenue of $9.5 billion through the end of December.
In the same vein, the Renault automotive group had announced the production from 2023 of an electric vehicle model called Mobilize Duo. With the Tangier plant inaugurated on February 9, 2012, the group has been able to produce in 10 years of presence in Morocco, 2,360,000 cars, with brands such as Dacia Lodgy and Dokker. Today the Tangier plant produces the new generation of the Sandero as well as the Renault Express and Express Van.
The main mission of the Tangier plant will now be to manufacture the Mobilize Duo. A 100% electric car dedicated to shared mobility. This new model awaiting production by Renault Group will be able to meet the needs of cities and car-sharing operators. The Tangier plant will see investment in a new assembly line with a capacity expandable to 17,000 vehicles per year, which will integrate the process specific to the specificity of an electric vehicle.
>> To read also: SOMACA celebrates the production of its 1 millionth vehicle
