Automotive: Stellantis enhances its Presence in Morocco with acquisition of Sopriam

Stellantis, one of the world’s leading automakers, has announced a two-phase acquisition of Sopriam, a subsidiary of the Al Mada group. The initial phase involves immediate majority control, followed by the full acquisition of 100% of shares by early 2025.

Stellantis will now directly handle the import and distribution of its Peugeot, Citroën, and DS Automobiles brands in Morocco, in addition to its existing brands (Fiat, Abarth, Jeep®, Alfa Romeo) through its established distribution network.

This capital injection marks a significant step in consolidating Stellantis’ presence in Morocco, a journey that began in 2015 under a strategic partnership with the Moroccan government, said the automaker giant in a press release.

Samir Cherfan, Stellantis CEO for MENA, said: “this acquisition underlines Stellantis’ dedication to advancing the automotive industry in Morocco. Our Kenitra plant is already among Stellantis’ top industrial sites and significantly contributes to our regional goals of achieving an annual production capacity of one million vehicles by 2030, with local integration exceeding 90%.”

Stellantis ambition is to become the market leader with over 22% market share by 2030, he said. “This substantial vertical integration of our import and distribution activities, especially in a key market like Morocco, represents significant progress toward this ambition”, underlined Mr. Samir Cherfan.