Head of the Central Bank had said that the factory will open by mid-2019.
Peugeot’s CEO Carlos Tavares will attend the opening of the state-of-the-art factory, which will mark the return for the company’s production in Africa.
Hiring was conducted and cars are expected to be assembled at the factory by July at the latest, L’economiste daily reports.
The factory is planned to release 20,000 units in 2019 before reaching the annual capacity of 90,000 vehicles. By 2020, the plant will be able to produce 100,000 cars but the maximum capacity would be 200,000 cars and motorbikes.
The output will be exported to Africa, the Middle East and Turkey with a local sourcing rate of 60 percent.
One dirham in two received out of industrial exports are generated by the car industry sector, which topped Morocco’s industrial exports in 2018 taking 44.5%.
With 402,000 cars produced in 2018, Morocco overtook South Africa as the continent’s first car manufacturer.
Renault is now producing 12% of its cars globally in its Tangier factory. China’s Byd, is also on its way to launch production of electrical vehicles in the country.