MILAN, Nov 9 (Reuters) – Stellantis (STLA.MI), on Wednesday said it would invest more than 300 million euros ($300 million) on Morocco’s Kenitra plant to double local production capacity.
The car maker said in a statement after a meeting with government officials in Rabat that it would introduce a “smart car” platform at the plant, as it strives to reach a market share of more than 22% in the region by 2030.
Stellantis’ growth plans for Middle East and Africa envisage a production capacity of one million vehicles per year by 2030.