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    Morocco earmarks €50 million to destroy Western car industry in Africa

    03 Jan 2023

    Morocco is fast becoming a leading car manufacturer in Africa. The automotive sector in Morocco is already its leading export sector. For a continent, where many countries are otherwise dependent on imported used cars from the West, Morocco is setting an example by slowly transforming itself into a car manufacturing hub. Morocco wants to build its position as an international hub for the automotive sector and it is strengthening its position in car manufacturing successfully. Now it has taken another big step in that direction.

    First Moroccan car brand for the local market

    “Neo” is the first Moroccan car brand to be produced for the local market with a €50 million investment which will be used for the building of a factory for this project. This announcement has been made by the Minister of Industry & Trade, Ryad Mezzour. He added that the plant is expected to produce annually 3,000 fuel-powered cars in the first phase, before pushing up production to 20,000 vehicles after years of operation.

    tfiglobalnews

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