First Independent Mena Newspaper
Japanese companies have launched a prospecting mission in the automotive sector in Morocco, the aim being to strengthen economic ties between Morocco and Japan. The prospecting mission, running from February 3 to 5, seeks to introduce participating Japanese companies to Morocco’s business environment and the various potential opportunities in the automotive sector. At a meeting […]
The automotive sector continues to top Morocco’s exports in the first eight months this year at 10.3 billion dollars, up 7.6%, Morocco’s foreign exchange agency said. Morocco is home to two production plants by Renault and Stellantis and has an ecosystem of parts producers as it has also attracted Chinese EV battery manufacturers. Despite consecutive […]
The European Bank for Reconstruction and Development (EBRD) has approved a €15 million loan to Moroccan car equipment supplier, Tuyauto, which produces stamped metal components, exhaust systems, and heat shields. The loan is guaranteed by the EU through the European Fund for Sustainable Development Municipal Infrastructure and Industrial Resilience program to support the company’s environmental […]
Morocco’s trade deficit contracted by 6.8% in the first six months this year, thanks to a rise in car exports and a drop in energy imports, the foreign exchange office said. Imports dropped to 358 billion dirhams, while exports rose to 221 billion dirhams leaving a deficit of 138 billion dirhams. Morocco has prepared the […]
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 […]
Morocco’s growing automotive sector is preparing the ground for the shift to electric vehicles as the country ambitions to set up a battery factory and further bolster the competitiveness of local part makers. In a push to achieve zero emission quest by 2050, the EU imposed a ban on petrol and diesel cars from 2035. […]
The next step in the expansion of Morocco’s automotive sector is the setting up of an electric vehicle battery plant to build on existing raw material and meet a rising demand in the domestic and international market, industry minister Ryad Mezzour said. The ministry is negotiating with several manufacturers the setting up of such a […]
Morocco and five automotive part manufacturers signed 8 investment agreements worth 1.7 billion dirhams ($1.8 billion) to set up plants in different industrial locations to boost the wiring components, key to meeting the growing orders from electric vehicle makers. Speaking during the signing ceremony, Moroccan Industry Minister Ryad Mezzour said the new investments reinforce Morocco’s […]
The outbreak of the coronavirus has crippled the global supply chain for the automotive sector which, coupled with a demand crisis, has triggered a lethargy in the car industry fabric globally with Morocco being no exception. Morocco has made the automotive sector a pillar of its industrial strategy attracting large-scale investments by world giants such […]