Morocco to Launch Domestic Car Manufacturing with 50 Million Euro Investment in 2023

The announcement was made by the Minister of Industry and Commerce, Ryad Mezzour, according to whom an investment agreement of 50 million euros will be signed in this regard in January 2023. This first Moroccan investment in this area will ultimately provide 3,000 cars per year, before reaching a pace of 20,000 vehicles after 4 years, he stressed.

"The factory, which does not plan a production line for electric cars, will only produce fuel-powered cars. The 50 million euros will be invested over 3 years, excluding operating costs," the minister specified.

As for the name of the brand of the new car, it will be revealed by the investors, the minister indicated, adding that the new brand is currently in the final authorization phase after having successfully passed all the tests and trials.

Note that this new unit will be added to the industrial units of Renault and Stellantis, which have an annual production capacity of 700,000 cars, including 50,000 electric vehicles.