Stellantis Shifts Focus to Morocco as Chinese EV Competition Intensifies

The CEOs of the major European automakers are stressing the urgent need to reduce the prices of electric vehicles to cope with the fierce competition from China, which offers low-cost and eco-friendly (zero-emission) vehicles. It is for this reason that they are asking European lawmakers to review the EU regulations on decarbonization targets.

Carlos Tavares, CEO of Stellantis, had stated a few weeks ago that the solution to this situation is to be found in Morocco and Turkey, where production costs are lower. The executive plans to invest 300 million euros to strengthen the capacity of his plant in Kenitra, Morocco, specifying that the ultimate goal is to make the kingdom "the third engine of Stellantis" and create 2,000 jobs. Morocco "is a country with magnificent conditions for investment," assured Carlo Tavares.