Stellantis to invest more than 300 mln euros in Morocco’s Kenitra plant

The logo of Stellantis is seen on a flag at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. REUTERS/Massimo Pinca/File Photo

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.

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