Stellantis NV is making an investment of more than 300 million dollars (300 million euros) in its Kenitra plant in Morocco, more than doubling production and creating only about 2,000 jobs.
The investment is a sign of the transatlantic automaker’s ambitions in the region. It’s looking for places of expansion beyond the solid markets of North America and Europe, and the company’s customers for particularly expanding its share in China, the world’s largest auto market, look bleak. .
“Stellantis’ global ambition will benefit from the strong speed of progression in the Middle East and Africa region, which aims to contribute to the creation of a third engine for Stellantis, in addition to North America and Europe,” said CEO Carlos Tavares. in a statement. ” I accept it as true with our regional groups to achieve sustainable expansion with a leading market position and double-digit margin, while leading the energy transition. At Stellantis, we are committed to providing our consumers in the Middle East and Africa with clean, safe and affordable mobility.
Investment in Morocco will increase production capacity to 1 million cars consistent with the year with the launch of a “smart car” platform with the aim of achieving a 22% market consistent with the percentage until 2030.
The plant, which opened in 2019, produces 400,000 cars consistent with the year as 50,000 electric products on the Citroën Ami and Opel Rocks-e quadricycle. The new intelligent car platform is expected to underpin 40% of the region’s mobility offerings through the end of the decade.
The investment also focuses on expanding the percentage of local production of products. Stellantis is 69% local integration and expects to grow at 70% by 2030. Stellantis will provide education for the new positions created through engagement.
“We are proud to announce today another vital milestone in the adventure of our commercial plant in Kenitra, in collaboration with the Ministry of Industry and Trade of Morocco,” said Mr. Samir Cherfan, Managing Director of Stellantis in the Middle East and Africa. . said in a statement. Together, we have positioned Kenitra as a leading Stellantis business site and made it a key contributor to our ambitious ambition in the Middle East and Africa region, leveraging the prospect of the recently unveiled ‘smart car’ platform that will be at the heart of our vehicle offering in the region until 2030. »
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