Olufemi Adeyemi
This capital investment represents a substantial milestone in solidifying Stellantis's presence within Morocco, a collaborative endeavor initiated in 2015 through a strategic partnership with the Moroccan government.
Stellantis has assumed responsibility for the import and distribution of Peugeot, Citroën, and DS Automobile brands in Morocco. The group remains dedicated to supporting the growth of Morocco's automotive industry. Customers throughout Morocco can now expect a consistent and improved experience that aligns with Stellantis' rigorous standards.
In a strategic move, Stellantis has announced a two-phase acquisition of Sopriam, a subsidiary of the Al Mada group. The initial phase involves immediate majority control, followed by the full acquisition of 100% of shares by early 2025. Stellantis will now directly handle the import and distribution of its Peugeot, Citroën, and DS Automobiles brands in Morocco, in addition to its existing brands (Fiat, Abarth, Jeep®, Alfa Romeo) through its established distribution network.
This capital injection marks a significant step in consolidating Stellantis' presence in Morocco, a journey that began in 2015 under a strategic partnership with the Moroccan government.
Stellantis’ diverse footprint in Morocco is highlighted by its extensive commercial network, the establishment of the first Africa Technical Center (ATC) in Casablanca focusing on “Core Technologies” and future mobility solutions, and the consistent growth of its Kenitra plant, which aims to double its production capacity to 400,000 vehicles by 2027.
Samir Cherfan, Stellantis COO for the Middle East and Africa, stated: “This acquisition underlines Stellantis’ dedication to advancing the automotive industry in Morocco. Our Kenitra plant is already among Stellantis' top industrial sites and significantly contributes to our regional goals of achieving an annual production capacity of one million vehicles by 2030, with local integration exceeding 90%.”
He continued: “"Regarding our business objectives, our ambition is to become the Market Leader with over 22% market share by 2030, aligning with our 'Dare Forward 2030' strategic goals. This substantial vertical integration of our import and distribution activities, especially in a key market like Morocco, represents significant progress toward this ambition.”
In line with this acquisition, Stellantis is dedicated to providing a cohesive and improved customer experience throughout the Kingdom.
Yves Peyrot des Gachons, Managing Director of Stellantis Morocco, commented: “By optimizing our commercial capabilities and consolidating synergies across our various operations, we are committed to providing our customers with a consistent experience that meets Stellantis’ high-quality standards and adheres to our customer-centric approach.”
He added: “Our customers will have access to a broader range of vehicles and benefit from increasingly innovative mobility solutions. We are more dedicated than ever to providing cleaner, safer, and more accessible mobility options.”
He concluded: “I want to express my deepest gratitude to Sopriam and its management teams for over 90 years of exceptional partnership. Together, we have navigated many milestones and overcome numerous challenges, always remaining true to our commitment to excellence and innovation. I thank Sopriam for its trust, continuous collaboration, and dedication, which have been pivotal to our shared success.”
Following the Executive Board meeting held today, Samir Chefan has been appointed as the Chairman of the Executive Board of Sopriam, while Yves Peyrot de Gachons has been named as the Managing Director of Sopriam.