Stellantis Acquires Sopriam and Enhances Presence in Morocco: A Strategic Move
Stellantis, a leading automotive company, has made a strategic move by announcing the acquisition of Sopriam, a subsidiary of the Al Mada group in Morocco. This two-phase acquisition involves immediate majority control, followed by the full acquisition of 100% of shares by early 2025. As a result, Stellantis will directly handle the import and distribution of its Peugeot, Citroën, and DS Automobiles brands in Morocco, in addition to its existing brands through its established distribution network.
Reaffirming Commitment to Morocco’s Automotive Industry
The acquisition of Sopriam marks a significant step in consolidating Stellantis’ presence in Morocco and reaffirms the company’s commitment to boosting the country’s automotive industry. This journey began in 2015 under a strategic partnership with the Moroccan government, and the acquisition of Sopriam further strengthens Stellantis’ position in the region.
Stellantis’ Expansion in the Middle East
Stellantis has a diverse footprint in Morocco, with an extensive commercial network, the first Africa Technical Center (ATC) in Casablanca focusing on “Core Technologies” and future mobility solutions, and the growth of its Kenitra plant. The Kenitra plant aims to double its production capacity to 400,000 vehicles by 2027, contributing significantly to Stellantis’ regional goals of achieving an annual production capacity of one million vehicles by 2030.
Stellantis’ Business Objectives for Morocco
Samir Cherfan, Stellantis COO for the Middle East and Africa, emphasized the company’s dedication to advancing the automotive industry in Morocco. He highlighted the Kenitra plant as one of Stellantis’ top industrial sites and expressed the company’s ambition to become the market leader with over 22% market share by 2030. The vertical integration of import and distribution activities in Morocco is a significant step towards achieving this goal.
Enhanced Customer Experience in Morocco
As part of the acquisition of Sopriam, Stellantis is committed to delivering a unified and enhanced customer experience across the Kingdom. Yves Peyrot des Gachons, Managing Director of Stellantis Morocco, underlined the company’s focus on customer-centric approach and high-quality standards. Customers can expect access to a broader range of vehicles and innovative mobility solutions, reflecting Stellantis’ dedication to cleaner, safer, and more accessible mobility options.
Appointment of Key Positions in Sopriam
Following the Executive Board meeting, Samir Cherfan was appointed Chairman of the Executive Board of Sopriam, while Yves Peyrot des Gachons was named Managing Director. These appointments aim to further strengthen Stellantis’ operations in Morocco and ensure a seamless transition following the acquisition of Sopriam.
In conclusion, Stellantis’ acquisition of Sopriam and the increased focus on Morocco’s automotive industry demonstrate the company’s commitment to growth and innovation in the region. The consolidation of import and distribution activities, along with the emphasis on enhancing the customer experience, paves the way for continued success and leadership in the dynamic automotive market of Morocco.