Morocco on Wednesday signed an amendment to its investment agreement with Renault Group in Rabat, marking a new milestone in the strategic partnership between the kingdom and the French automaker.
The signing ceremony was attended by Prime Minister Aziz Akhannouch, Renault Group’s Executive Vice President François Provost, and Minister of Industry and Trade Ryad Mezzour.
The amendment, which builds on the ongoing development of Morocco’s automotive ecosystem, provides for the creation of 7,500 direct and indirect jobs. It aims to enhance the sector’s sustainability and competitiveness while consolidating mutual commitments between Morocco and Renault.
According to an official statement, the meeting between Akhannouch and Renault’s executive vice president was an opportunity to discuss ways of strengthening Renault Group’s industrial ecosystem in Morocco and boosting the development of the national automotive industry.
On this occasion, the Prime Minister stressed that Morocco continues to capitalise on its achievements in the automotive sector through partnerships with leading global manufacturers. He noted that the kingdom’s main challenge remains opening the industry to cutting-edge technologies to enhance its international competitiveness and better leverage Moroccan expertise.
Under the agreement, Renault Group Morocco is entering a new phase of industrial development, which in the short term will focus on renewing its flagship models. In the medium term, the group plans to expand its industrial ecosystem in Morocco by launching a new range of electric vehicles by 2030, while modernising production tools and upgrading workforce skills — a sign of the Group’s continued confidence in Morocco’s industrial platform.
The same source added that the amendment ushers in a new phase with the rollout of a comprehensive development plan covering 2025–2030. The plan includes the establishment of an engineering center dedicated to research and development activities by the end of 2025, as well as the production in Morocco of hybrid and electric vehicles, reinforcing the kingdom’s industrial ambitions.
Renault Group Morocco produced more than 413,000 vehicles last year, 90% of which were exported to over 68 countries, according to the statement.
APA