Stellantis has announced a two-phase acquisition of Sopriam, a subsidiary of the Al Mada group, starting with an immediate majority control and culminating in the purchase of 100% of the shares by early 2025.
Stellantis, the global automotive giant, reaffirmed its commitment to contributing to the development of Morocco’s automotive sector. On Tuesday, July 22, the company detailed its phased acquisition plan of Sopriam. Stellantis will now manage the import and distribution of its brands Peugeot, Citroën, and DS Automobiles in Morocco, alongside its other brands such as Fiat, Abarth, Jeep, and Alfa Romeo through its own distribution network.
“This capital increase marks a new chapter in consolidating Stellantis’ activities in Morocco, which began in 2015 through a strategic partnership with the Moroccan government,” the company stated.
Expanding footprint and capabilities
Stellantis’ diversified presence in Morocco includes a comprehensive commercial network and the establishment of the first Africa Technical Center (ATC) in Casablanca, focused on “Core Technologies” and future mobility solutions. The company also highlights the significant growth of its Kénitra plant, set to double its production capacity to 400,000 vehicles by 2027.
“This acquisition reinforces Stellantis’ commitment to the development of the automotive industry in Morocco. Our Kénitra plant is already one of Stellantis’ top industrial sites, contributing significantly to the group’s regional ambitions to achieve an annual production capacity of one million vehicles by 2030, with local integration exceeding 90%,” said Samir Cherfan, Stellantis’ Chief Operating Officer for the Middle East and Africa.
Strategic commercial goals
Cherfan emphasized Stellantis’ goal to become the market leader with more than a 22% market share by 2030, in line with the “Dare Forward 2030” strategic objectives. The vertical integration of import and distribution operations in a key market is a substantial step toward this goal.
Stellantis is committed to offering a unified and enhanced customer experience throughout Morocco. “Our customers will have access to a broader range of vehicles and benefit from increasingly innovative mobility solutions. More than ever, we are committed to providing cleaner, safer, and more accessible mobility,” noted Yves Peyrot des Gachons, Managing Director of Stellantis Morocco.
Workforce and production
Stellantis currently employs 5,192 people in Morocco, including 3,852 workers at the Kénitra plant and 922 engineers at the Africa Technical Center in Casablanca. The company produces 200,000 vehicles annually, including models like the Peugeot 208, Citroën Ami, Opel Rocks-e, and Fiat Topolino. The distribution network consists of 59 sales points.
Following the Board of Directors meeting on Tuesday, July 22, Samir Cherfan was appointed Chairman of the Board of Sopriam, and Yves Peyrot des Gachons was named Managing Director of Sopriam.
