FICOSA Joins Morocco’s Automotive Industry Fabric

FICOSA Joins Morocco’s Automotive Industry Fabric

Spanish car parts maker, Ficosa, will start operating its Moroccan plant specializing in producing in-vehicle cameras on March 20, the company said.

The Catalonia-based Ficosa, which has been sold to Japan’s Panasonic last July, has completed the plant for a total cost of €30 million.

The plant, which will offer 800 direct jobs by 2020, will supply parts to Peugeot factory in Kenitra

Morocco’s automotive industry is growing at a rapid pace due to incentives and competitive factors attracting more and more investors and car parts makers.

These factors include Morocco’s proximity to the European market, modern infrastructures, free trade zones, qualified manpower, open economy and stability.

Experts say that the development of the automotive industry in the country will help the Government create 90,000 jobs by 2020 in addition to the 100,000 that already exist.

The government also aspires to increase the proportion of locally produced components in exported cars from 40% to 65% by the end of the decade.

French automaker Renault operates two vehicle assembly plants in Morocco, in Casablanca and in Tangier, where it already produced its millionth vehicle since opening the factory in 2012. PSA Group will begin building cars near the Moroccan coastal city of Kenitra in 2019.

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