In response to increasing global demand for electric and hybrid vehicles due to high fuel prices, Morocco plans to increase domestic production of electric vehicles. Rabat recently announced that it will soon sign an agreement to build a “gigafactory” to manufacture electric vehicle (EV) batteries has put Morocco in a prime position to become a green mobility leader. In this article, we will talk about the vehicle production Morocco that is going to be All Electric.
Moroccan Minister of Trade and Industry Statement:
According to the Moroccan ministry of trade and industry, Morocco will treble its production of electric vehicles over the next two years. He added, that within the next two to three years, the nation’s yearly production of electric cars have expected to increase to 100,000 units double the current production input. The minister claims that the production target achievable given the existing industrial capacity, without taking into account the possibility of attracting foreign investment in the future.
Electric Vehicle Production Morocco in Future:
According to data reported by Asharq Business, car exports predicted to total $5.6 billion by the end of 2022. Making the switch to producing electric vehicles is becoming necessary in order to compete in the global market of the future. The commercial future for cars with combustion engines does not appear to be very encouraging as nations move closer to their carbon neutrality goals. He added, that the country is now gearing up to transition to electric car production to stay ahead and expected that the importation of vehicles with internal combustion engines will be prohibited by the union in 2035.
Morocco is currently working to meet a target of 1 million cars produced annually. In order to reduce its reliance on imported auto parts, the country also plans to increase domestic auto part manufacture. Morocco is emerging as an attractive location for electric vehicle manufacturers due to its significant reserves of cobalt, a key component in the production of electric vehicle batteries. Morocco is home to production plants of Renault and Stellantis with a total production capacity of 700,000 vehicles focused on both domestic and international markets. More than 250 Moroccan automakers and component suppliers currently operate in Morocco, contributing significantly to the nation’s automobile industry.
