Stellantis invests 300 million euros in Kenitra plant (Morocco)

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(Finance) – Stellantis announced a investment of over 300 million euros in favor of the Kenitra production plant (Morocco) in order to double its production capacity and launch the “smart car” platform. The site is intended for double its production capacity to reach 400,000 vehicles per year, to which must be added 50,000 examples of electric vehicles: Citroen Ami and Opel Rocks-e. The “smart car” platform was created to further support the Stellantis range which, by 2030, will represent 40% of the region’s mobility offer.

The new investment it will create around 2,000 new jobs locally, reads a note. The announcement is part of the Strategic Industrial Agreement established in 2015 between Stellantis and the Moroccan government with the aim of contributing to the development of the country’s automotive industry.

The increase in production capacity at the Kenitra plant is one element in support of business plans for the growth of the Middle East and Africa regionas it aims to reach a production capacity of one million vehicles per year by 2030 with local integration of 70%,

“Stellantis’ global ambition will benefit from the sustained pace of development of the Middle East and Africa region, which aims to contribute to creation of a third engine for Stellantisto be added to North America and Europe, ”said the CEO of Stellantis Carlos Tavares.