Morocco is now establishing itself as a "powerhouse" in the African automotive industry, a position that is expected to significantly boost the country's GDP growth in the coming years, wrote Spanish economic daily El Economista on Wednesday.
"Thanks to its strategic geographical location, skilled workforce, and free trade agreements, particularly with Europe and the United States, Morocco is emerging as a key player in the global automotive industry," the Spanish outlet highlighted.
In 2023, Moroccan vehicle production surged by 15%, surpassing the 500,000-unit mark, the article noted, adding that Morocco now produces more cars than Hungary and Romania, and is closing in on Poland.
The publication recalled that the factories of the French group Renault in Casablanca and Tangier have produced over four million vehicles since they began operations in 2005 and 2012, respectively. Another major French player, Citroën, plans to produce approximately 100,000 vehicles in the country by 2027, the article continued.
Since the pandemic, industrial projects in Morocco have multiplied, driven by the rise of electric vehicles and the diversification of supply chains, the report pointed out.
The article’s author further noted that several Chinese manufacturers of electric vehicle batteries have announced projects in Morocco, citing Gotion High-Tech, Hunan Zhongke Shinzoom Technology, and BTR New Material, which plans to build a factory capable of producing 50,000 tons of cathodes annually.
According to the publication, these investments are not limited to Chinese companies. The report also mentioned the Spanish automotive components manufacturer Antolin, already operating in Tangier, which recently announced plans to increase its investments in Morocco, illustrating the confidence foreign investors have in the opportunities the country offers.
The specialized media described the expansion of Morocco's automotive sector as an "economic miracle" for a country aiming to position itself as the "factory of Africa."
Morocco is expected to remain an attractive investment destination, thanks to the quality of its infrastructure, which provides a favorable environment for exports, allowing the country to rank sixth among the top emerging markets in terms of ports, El Economista concluded.
