Moroccan Vehicles
Morocco is getting ready to introduce a 100% Made in Morocco automobile brand that will be sold at an expected cost of MAD 170,000 ($15,000/PKR 34.03 lac). The "Neo" brand will be used to market the affordable vehicles.
Despite the lack of visuals, the minister stated that the car might be sold in 2023. The vehicle "has already successfully completed all tests and will be made available to Moroccan customers at competitive costs, and the relevant authorities are in the process of approving the Moroccan brand.
In order to boost the "integration rate so that the components are likewise largely Moroccans, The Neo car brand will first target the domestic market; however, it will be made sure that this company has a global presence soon.
Morocco’s Reputation In Automotive Industry
In recent years, Morocco has been successful in solidifying its position as a top exporter of automobiles to Europe and the African market. As a result, with 29% of all exports coming from the automobile industry, Morocco now exports more than the mining industry combined.
More than 180,000 jobs are created by Morocco's automotive industry, which manufactures more than 700,000 cars. The country has earned 72.2 billion dirhams as a result of its profitability and the export of its goods to more than 74 nations.
Morocco's thriving auto sector is a reflection of the country's robust labor force. 10,000 vehicle design engineers reside in the nation, according to minister Mezzour, and they work for renowned brands from North America, germany, france, and britain
Future Of Morocco Car Industry
The value added in Morocco's annual production of even more than 700,000 automobiles is greater than 60%. The goal for the upcoming years is to create a million automobiles by 2025 with a Moroccan value-added integration rate of 80%.
After China and India, Morocco is very happy to hold the third-place position globally in terms of competitiveness.
Rise Of Morocco In Automotive Industry
According to a recent research named "African Industrialization Index 2022", Morocco comes in second in terms of improving manufacturing in Africa (UNIDO). The report claims that Morocco has one of the greatest producing economies in Africa, with continuous growth in all index components since 2010.
Currently, automakers aiming to cut production costs while catering to European clients frequently choose Morocco. However, retaining its dominant position in the sector is not without difficulties.
By 2035, Morocco would need to switch to making electric cars in order to maintain its dominant market, and this is also one of the ministry of industry's top priorities.
