Latest news with #Kenitra
Zawya
2 days ago
- Automotive
- Zawya
Stellantis invests $1.3bln in Morocco
Morocco has taken a new step in its industrial push with the inauguration of the expanded Stellantis plant in the Northwestern Kenitra city. Prime Minister Aziz Akhannouch headed the ceremony on Wednesday and described the project as part of the country's long-term ambition to grow a competitive, integrated, and value-driven economy. The €1.2 billion ($1.3 billion) investment by the multi-national auto manufacturer includes €702 million ($792 million) dedicated to developing local suppliers. It will double the plant's production capacity and raise the local integration rate to 75 percent by 2030, Morocco's press said, citing a statement by the Netherland-based Company. The expansion is also set to create 3,100 direct jobs and strengthen Morocco's position as a key player in the global automotive industry. Akhannouch said the project reflects the goals of the New Investment Charter and Morocco´s industrial roadmap. Minister of Industry Ryad Mezzour emphasized the scale of the achievement, saying Morocco now stands among the few countries with an annual automotive production capacity exceeding one million vehicles. He called the project a result of shared confidence between Morocco and Stellantis, and a sign of growing technological independence that offers skilled opportunities for young Moroccans. From its launch in 2016, the factory's production has progressed to reach 200,000 vehicles per year by the end of 2020, three years ahead of schedule. Stellantis plans to produce 350,000 engines annually at the site in two phases. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Yahoo
5 days ago
- Automotive
- Yahoo
Stellantis doubles Kenitra plant capacity for electric cars
Stellantisis poised to double its production capacity at the Kenitra plant in Morocco in the forthcoming months, aiming to reach 535,000 vehicles annually, reported Reuters. The plant's focus will be on increasing the output of supermini electric cars, including the Opel Rocks-e, Citroën Ami, and Fiat Topolino, from 20,000 to 70,000 units. It will primarily supply markets in Europe and North Africa. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The expansion plans were announced by Stellantis Middle East & Africa chief operating officer, Samir Cherfan during the inauguration of the plant's €1.2bn ($1.4bn) expansion project. The move is anticipated to increase the local sourcing rate from the current 69% to 75% by 2030, as stated by Moroccan Prime Minister Aziz Akhannouch. Additionally, the company has plans to manufacture hybrid engines and three-wheeled vehicles at the Kenitra facility, which first opened its doors in 2019 and achieved a production capacity of 200,000 vehicles by 2020. Industry minister Ryad Mezzour noted that Morocco's automotive sector is set to surpass a production capacity of one million vehicles with the company's expansion. Moroccan automotive industry exports are said to have seen a 6.3% increase to a $17bn last year. "Stellantis doubles Kenitra plant capacity for electric cars – report" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
6 days ago
- Automotive
- Reuters
Stellantis expands production capacity at Morocco plant
RABAT, July 17 (Reuters) - Carmaker Stellantis ( opens new tab plans to more than double production capacity at its plant in Kenitra, Morocco, in the coming months to 535,000 vehicles annually, its chief operating officer for the Middle East and Africa said on Wednesday. The plant aims to step up production of supermini electric cars - including the Citroën Ami, Opel Rocks-e, and Fiat Topolino - to 70,000 from 20,000, Samir Cherfan said at the inauguration of the plant's expansion. The 1.2 billion euro ($1.4 billion) expansion is expected to raise the local sourcing rate to 75% by 2030, Moroccan Prime Minister Aziz Akhannouch said at the event. That compares with a rate of around 69% currently. Stellantis also plans to produce hybrid engines and three-wheeled vehicles at the plant. The Kenitra facility, which opened in 2019, reached a production capacity of 200,000 vehicles in 2020. In addition to Stellantis, Morocco is home to French carmaker Renault ( opens new tab and parts suppliers. Stellantis's expansion will help Morocco exceed 1 million vehicles in production capacity, industry minister Ryad Mezzour said at the inauguration. The country's automotive industry exports rose 6.3% to a record 157 billion dirhams ($17 billion) in 2024, according to official figures. Morocco has been preparing its automotive sector for the electric mobility transition, attracting investments in recent years from Chinese EV battery makers. ($1 = 0.8621 euros)
Reuters
21-05-2025
- Automotive
- Reuters
Gotion to begin building Morocco gigafactory 'within days'
RABAT, May 21 (Reuters) - Gotion Power Morocco, a subsidiary of Sino-European electric vehicle battery maker Gotion High Tech, will begin building its gigafactory in the north African country "within days," the company's Morrocan head Khalid Qalam said on Wednesday. Gotion High Tech signed an investment deal with the Moroccan government in June last year to set up the first gigafactory in Africa near Kenitra, northwestern Morocco, for a total investment $6.5 billion. The company's investment, spurred by government incentives, is in line with Morocco's aim to expand and adapt its automotive sector. Qalam told an industry conference in Rabat the groundwork for the factory had been completed and the first production was expected in the third quarter of 2026. In a first phase, at a cost of $1.3 billion, the plant would have 20 gigawatt capacity, he said, adding the company had agreed with the Moroccan government to increase capacity to 40GW in a second phase. He did not give a timeline. In addition to batteries, the plant will also produce cathodes and anodes, with a view to exporting the bulk to Europe, he said. "We have already received orders from many European car manufacturers," he said. Morocco's geographic location close to Europe and its existing automotive industry make it attractive to Chinese EV battery makers. The country is is home to Stellantis ( opens new tab and Renault ( opens new tab vehicle production plants, and reported a 6.3% increase in automotive sector exports to a record 157 billion dirhams ($17 bln) in 2024, according to official figures.
