Renault Group Morocco announces a new chapter for its ecosystem in the Kingdom
- The Kingdom of Morocco and Renault Group have signed a renewal of the agreements aimed at consolidating the ecosystem over the period 2021-2030, thus confirming its role as a locomotive of the Moroccan automotive sector.
- Renault Group Morocco will develop new vehicle projects that will progressively include Renault Group's electrification technologies. These projects will contribute to the growth and development of the automotive industry.
- The Group is committed to achieve 2.5 billion euros in revenues by sourcing locally as early as 2025, and eventually to reach a target of 3 billion euros in revenues with 80% of local integration.
- Renault Group Morocco unveils the first Dacia Sandero manufactured at the SOMACA plant, which will go on sale in Morocco next September.
Casablanca, July 27th, 2021 - As part of the industrial acceleration plan, Renault Group Morocco and the Ministry of Industry, Trade, Green and Digital Economy signed an agreement that fixes new objectives for the development of the Renault ecosystem. This agreement confirms the unfailing support of the Kingdom and by this new impetus concretizes its commitment to the development of Renault Group's activity in the Kingdom and the entire Moroccan automotive industrial sector.
This ceremony took place in the presence of the Minister of Industry, Trade, Green and Digital Economy, Moulay Hafid Elalamy and the CEO of Renault Group, Luca De Meo.
This step also represents the kick-off of a new industrial dynamics: Renault Group Morocco unveiled the first Dacia Sandero dedicated to the Moroccan market and manufactured at the SOMACA plant. The New Sandero will go on sale in September.
"Under the enlightened leadership of His Majesty King Mohammed VI, may God assist him, the Moroccan automotive industry is today facing a turning point of its evolution. The development of our partnership with Renault opens its ecosystem to new horizons with high technological value, in perfect adequacy with the objectives of our industrial revival plan aiming at reinforcing the industrial competitiveness of the Kingdom worldwide", declared the Minister of Industry, Trade, Green and Digital Economy, Mr Moulay Hafid Elalamy. He added: "The expansion of the Renault ecosystem meets two major challenges of the sector, namely, the positioning of Morocco in electric mobility and the strengthening of local sourcing."
"We are very pleased to give a new momentum to our historical partnership with the Kingdom of Morocco. This agreement will enable to strengthen the competitiveness and attractiveness of the Moroccan industry while preparing it for the future: the decarbonization strategy initiated by the Kingdom is fully in line with our vision and will be a structuring element in the years to come."
Luca de Meo, CEO of Renault Group.
New objectives for the Renault ecosystem from 2023
Despite the sanitary crisis and the shortage of electronic components experienced by all economic players, Renault Group Morocco confirms its latest commitment, signed on April 8th, 2016, with the Kingdom in the presence of His Majesty King Mohammed VI, with the achievement of a turnover of 1.5 billion euros and 65% of local integration by 2023. At the beginning of 2021, Group Renault announced it had exceeded the threshold of 60% of local integration.
Today, the Group is strengthening its commitment to develop the Renault ecosystem by committing into a new phase raising the local sourcing target to 2.5 billion euros by 2025, with a target of 3 billion euros. Renault Group Morocco is also committed to raise its integration rate to a target of 80% in the long term.
As a reminder, the number of Tier 1 suppliers based in the Kingdom has already been tripled, from 26 to 76. This new commitment will support the installation of new suppliers and strengthen the existing sites.
Industrial projects and a wider influence around the world
This new commitment will support the development of the Moroccan industrial sector and the industrialization of new vehicle projects for Renault Group brands with high technological value.
In line with the Renaulution strategy and the global orientation of the automotive industry towards the production of environment-friendly vehicles, Renault Group Morocco is preparing the industrialization of new vehicles in both Renault Moroccan sites. These vehicles will gradually include Renault Group's electrification technologies.
Renault Group Morocco and its ecosystem benefit from the impetus given by the Ministry of Industry, Trade, Green and Digital Economy for the decarbonization of industry and the creation of a green energy sector with competitive prices. This initiative of the Kingdom will continue to strengthen the industrial competitiveness of Morocco on a worldwide basis.
Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 5 complementary brands - Renault, Dacia, LADA, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold 2.9 million vehicles in 2020. It employs more than 170,000 people who embody its Purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2050. www.renaultgroup.com/en/