Morocco’s automotive industry shifts gears to prep for electric vehicle era

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 55 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 63%

Morocco News

Automotive Industry,Electric Vehicle,Renault

TANGIERS, Morocco (AP) — A train that travels from rural northern Morocco to a port on the Mediterranean Sea carries no passengers. Three times a day, it...

to a port on the Mediterranean Sea carries no passengers. Three times a day, it brings hundreds of cars stacked bumper to bumper from afrom virtually non-existent to Africa's largest in less than two decades. The North African kingdom supplies more cars to Europe than China, India or Japan, and has the capacity to produce 700,000 vehicles a year.projects.

Major automakers pay unionized factory workers less in Morocco than they do in Europe. But even with salaries one-fourth the size of France’s 1,766.92-euro monthly minimum wage, the jobs pay more than the median income in Morocco. The industry employs 220,000 — a small but sizable chunk of the more than 200,000 agricultural jobs the country is losing annually amid

Moroccan officials have sought investment from both East and West, trying to lure industry players from China, Europe and the United States as they now race to produce affordable electric vehicles at scale.— the world’s largest electric vehicle maker — has at least twice announced plans to build factories in the country that have stalled before starting.

“We’re predisposed to manufacturing cars for customers in our sphere. And the day they decide they need electric vehicles, we will,” he said. Though the U.S. incentives can extend to Morocco because the countries share a free trade agreement, Mezzour said they complicated the global supply chain and sometimes made his job more complicated.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines