Several Chinese companies are interested in the Moroccan market where the production of electric batteries is booming. They plan to invest more than $700 million, thus helping to make the kingdom one of the world’s leading producers of cathodes.
Sales of new luxury cars in Morocco increased by 15% last year, despite the impact of the market by a drop in demand due to inflation, higher financing costs and rising prices of various brands.
The Moroccan new car market recorded a slight increase in 2023. This is the result of the annual report presented by the Association of Vehicle Importers in Morocco (AIVAM) at a press conference.
Morocco could become a global producer of cathodes. Chinese giants specialized in cathode production have announced investments of over $700 million in the kingdom.
Car exports increased by 30.2% at the end of November 2023 compared to the same period last year, reaching more than 130.64 billion dirhams (MMDH).
The year 2023 has been exceptional for the automotive industry in Morocco , with a 30.5% increase in sales reaching 116.38 billion dirhams by the end of October.
The Directorate General of Taxes (DGI) has just done a favor for Moroccan motorists regarding the Annual Special Vehicle Tax (TSAV).
Algeria wants to compete with Morocco by increasing its investments in the automotive sector. It is trying to regain the ground it has lost in recent years.
The Franco-Moroccan manufacturer NamX, led by the Moroccan Faouzi Annajah, in collaboration with the Italian coachbuilder Pininfarina, has unveiled the technology it will use for its NamX Huv, a revolutionary new hydrogen vehicle.
The Moroccan automotive market is recovering after a few months of calm with an increase of 22.01% compared to the previous year, according to data from the Association of Vehicle Importers in Morocco (AIVAM).
The Stellantis automotive group is expanding its range with the new all-electric Fiat Pandina car that will be produced in Morocco, Brazil and Serbia.
China is showing growing interest in Morocco, whose automotive potential is huge and varied. Its proximity to the European market also attracts the Asian giant.