Automotive: Leoni invests nearly $100 Mln in projects in Morocco

German Leoni firm, a global leader in cables and wiring systems, is enhancing its presence in Morocco thanks to the country’s political stability and rapid growth of its automotive industry.

The German company has pledged to invest over $92.1 million in six projects to create 7100 jobs in the country under deals signed in presence of Head of Govt. Aziz Akhnouch.

Leoni will build an electrical wiring plant in Agadir for $18.4 million, creating 3,000 direct jobs, and will enlarge its five factories operating in the Casablanca-Settat region.

Morocco is becoming a real success story and one of the world’s major players in the automotive sector. The country is home to major vehicle factories operated by Renault and Stellantis; Renault has two plants, one in Casablanca and another one in Tangiers which opened in 2012. Stellantis has a factory in Kenitra with a production capacity of 400,000 units per year.

In 2017, Renault Tangier plant, which produces annually over 340 000 cars, celebrated its one millionth vehicle produced locally and exported to Turkey.

Few weeks ago, the 1st Moroccan car brand and a hydrogen powered vehicle prototype were presented to King Mohammed VI. The two projects, developed by Moroccan entrepreneurs are a significant milestone for the country and will strengthen the “Made in Morocco” label and establish the country as a competitive hub for automotive production.