Rabat – The Head of Government, Aziz Akhannouch, received, on Wednesday in Rabat, the CEO of Renault, François Provost, in the presence of the minister of Industry and Trade, Ryad Mezzour, and chaired the signing ceremony of an amendment to the investment agreement with the group.
The meeting provided an opportunity to discuss the mechanisms of bolstering the industrial ecosystem of the Renault Group in Morocco, in order to contribute to the development of the automotive industry in the Kingdom, which is now a proven lever for growth and industrial development, thanks to the enlightened vision of His Majesty King Mohammed VI, according to a statement from the Head of Government’s office.
On this occasion, the Government chief affirmed that Morocco, under the impetus of HM the King, is still capitalizing on its achievements in the automotive industry through partnerships with leading international groups.
He underlined that opening the industry to cutting-edge technologies to strengthen the sector’s competitiveness on the global stage and promote Moroccan skills remains the challenge for the Kingdom.
Subsequently, the Head of Government chaired the signing ceremony, by Mezzour and Provost, of an amendment to the investment agreement, which strengthens the partnership between Morocco and Renault Group Morocco by consolidating mutual commitments aiming to provide sustainability to the development of the automotive industry and ecosystem in Morocco. This amendment is set to provide for the creation of 7,500 direct and indirect jobs.
By virtue of the agreement, Renault Group Morocco engages in a new phase of industrial development marked, in the short term, by the renewal of its landmark models.
In the medium term, the Group will strengthen its industrial ecosystem in Morocco with the launch of a new series of electric vehicles by 2030, alongside the modernization of industrial facilities and production lines and the upskilling of human resources, confirming the Group’s confidence in the Moroccan industrial platform.
This amendment also marks the start of a new phase, with the launch of a structural development plan covering the period 2025 -2030, which aims to continue the modernization of the Renault Group’s industrial ecosystem in Morocco through the creation of an engineering center dedicated to research and development activities before the end of 2025 and the consolidation of the Kingdom’s industrial ambition through the production of hybrid and electric vehicles in Morocco.
Renault Group Morocco produced more than 413,000 vehicles last year, with 90% of “Made in Morocco” vehicle production exported to more than 68 countries, the statement concludes.
