Morocco is emerging as a key destination for the automotive manufacturer Stellantis, Spanish magazine Híbridos y Eléctricos reported on Monday.
Facing competition, Stellantis has chosen Morocco as a destination “with the greatest potential for its investments,” the magazine wrote.
The magazine noted that Stellantis’ CEO Carlos Tavares had previously said that “Morocco should become “Stellantis’s third engine.” Tavares made his comment during the announcement of a 300 million euro investment for expanding the group’s factory in Kenitra.
According to the executive of the multinational manufacturer, formed in 2021 after the merger of PSA and Fiat Chrysler Automobiles, Morocco “offers excellent conditions for investment,” he added.
The Kenitra site opened in 2019; it is a flagship project of the global automotive giant, aligning with Stellantis’s extensive “Dare Forward 2030” plan.
The objective is to transform Kenitra into a “key hub” to meet the specific needs of both local and European markets.