Morocco: Automotive Industry Confirmed as Key Player in the Economy - French Media Outlet
With 700,000 vehicles leaving Moroccan factories in 2019, exceeding the target of 600,000 set for 2020, the sector, which now employs 180,000 people, has become the country's leading export sector, providing a third of exports worth 7 billion euros, the French media outlet reported on its website.
The sector is still attractive as shown by the recent decision of French group Utac and German group FEV to set up Africa's first automotive development and testing center in Morocco and by the decision of the PSA group to extend its complex in Kenitra on 96 additional hectares, it added.
The first announcement relates to the launch of an automotive testing center to be operational in 2021 in Oued Zem, 150 km southeast of Casablanca.
The project is led by UTAC, which specializes in validating the conformity of vehicles to standards, and German FEV, "two major players in the automotive sector who make no secret of their choice," wrote France Info.
According to the media outlet, the policy conducted by Morocco to make the country a major player in the automotive industry has attracted several manufacturers (Renault, PSA) and their subcontractors, who are potential customers for UTAC and FEV.
Furthermore, favorable local labor costs will enable both operators to benefit from better competitiveness on certain types of services.
As for the second announcement, it confirmed that "the development of the automotive industry in Morocco continues."
Thus, 96 additional hectares will be developed in Kenitra to accommodate new subcontractors of the manufacturer PSA, underlined France Info, stressing that the PSA complex has achieved a turnover of 850 million euros in 2019.
The sector is still attractive as shown by the recent decision of French group Utac and German group FEV to set up Africa's first automotive development and testing center in Morocco and by the decision of the PSA group to extend its complex in Kenitra on 96 additional hectares, it added.
The first announcement relates to the launch of an automotive testing center to be operational in 2021 in Oued Zem, 150 km southeast of Casablanca.
The project is led by UTAC, which specializes in validating the conformity of vehicles to standards, and German FEV, "two major players in the automotive sector who make no secret of their choice," wrote France Info.
According to the media outlet, the policy conducted by Morocco to make the country a major player in the automotive industry has attracted several manufacturers (Renault, PSA) and their subcontractors, who are potential customers for UTAC and FEV.
Furthermore, favorable local labor costs will enable both operators to benefit from better competitiveness on certain types of services.
As for the second announcement, it confirmed that "the development of the automotive industry in Morocco continues."
Thus, 96 additional hectares will be developed in Kenitra to accommodate new subcontractors of the manufacturer PSA, underlined France Info, stressing that the PSA complex has achieved a turnover of 850 million euros in 2019.