Stellantis invests 300 million in its factory in Morocco

Stellantis invests 300 million in its factory in Morocco

Africa-Middle East has always been a key region for the former PSA. The famous Peugeot 404 and 504 pickups from the ’60s to ’90s that still roam the African slopes gained a solid reputation for sturdiness there before being adopted by Japanese, Korean and now Chinese vehicles. After withdrawing from Iran in 2018 for political and diplomatic reasons, the former PSA group (which became Stellantis in early 2021 through its merger with Fiat Chrysler-FCA) therefore relied heavily on Morocco. And the Franco-Italian-American manufacturer is now doubling the bet. On Wednesday evening he announced “an investment of more than 300 million euros at the Kenitra site”, a factory that the manufacturer inaugurated in June 2019 Initial investment of 550 million euros.

The aim of the expansion is to “double the production capacity to 400,000 annual units”. This investment is expected to create nearly 2,000 new jobs locally. With this increase in power, the Moroccan site of Kenitra, located in a free zone between Rabat and Tangier, now rivals in size with Renault, which mainly makes Dacias in Tangier. With a local integration rate of 69% according to the manufacturer. The Stellantis Group, which produces the Peugeot 208 and the Citroën Ami and Opel Rocks-e electric karts intended mainly for export to Western Europe, intends to locally assemble a new range of vehicles on the “smart car” for the local market.

Reference: www.challenges.fr

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