Assahafa.com
Renault Group Executive Director François Provost praised on Wednesday in Rabat Morocco’s stable and consistent industrial policy, led by His Majesty King Mohammed VI.
In a statement to the press following the signing ceremony for an amendment to the investment agreement, chaired by Head of Government Aziz Akhannouch, Provost reaffirmed Renault Group’s full confidence in the Kingdom.
The signing of this third amendment confirms the continuity of an exemplary and lasting partnership, he said, adding that Morocco holds a very special place within the Renault Group.
In this regard, Provost, who made his first official trip abroad since his appointment, noted that nearly one in five vehicles produced worldwide by the group is manufactured on Moroccan soil.
The Kingdom is also a key market, where Renault holds over 40% of the market share, he said, praising various value chains developed in Morocco, supported by a “remarkable” industrial policy.
Recalling that the Tangier plant, inaugurated by His Majesty King Mohammed VI, has now become Renault’s main global production site, Provost stated that the new amendment formalizes the new generation of cars the group plans to develop and produce in Morocco.
It also provides for the creation of a research and development (R&D) center in the Kingdom, as well as the establishment of one of Renault Group’s three global digital hubs.
For his part, Akhannouch emphasized that the signing of this amendment illustrates the group’s confidence in Morocco’s governance.
“This third agreement will enable us to look ahead to 2030, through significant investments aimed at diversifying the models produced in Morocco,” he said.
Source: map
