Already number one in Africa, the Moroccan automotive industry is growing stronger every day and increasingly rubs shoulders with the major industrialized countries. This sector aims to produce a million cars in the short term.
Due to the growth experienced by the automobile in Morocco and with its proximity and easy access to the European market, more and more automobile manufacturers and suppliers are attracted to the kingdom. Thus, soon, the country will be able to produce a million cars, informs the American magazine “Automotive Industries” (AI), specifying that Morocco is one of the big ones of the automotive industry in Africa, surpassing the South Africa, Egypt and will soon overtake Italy in vehicle production.
Morocco had 250 automotive companies in 2019, generating 220,000 direct jobs, with a local integration rate of 60% and an installed capacity of 700,000 vehicles. In the year 2019, auto exports registered nearly $ 8.5 billion. Investment in Morocco is explained by its political stability, the geographical location of the kingdom, the advantages of export industrial zones and others, explained in an interview, the Director of Development at the Moroccan Agency for the Development of Investments and of exports (AMDIE), Ayda Fathi.
In addition, “the automobile is Morocco’s leading export sector, ahead of phosphates. In the first quarter of 2021, the country was the second largest supplier to Europe in terms of number of cars,” said Fathi, according to which “investment in renewable energy, innovation and human capital, allow us to adapt to developments in the sector”. And, despite the impacts of the health crisis, the fundamentals of Moroccan supply remain unchanged. As proof, the sector’s exports in the first quarter of 2021 surpassed 2019 levels, with confirmation of all planned investments.