French car producer Peugeot Societe Anonyme (PSA) will launch in the second quarter (Q2) a new production factory, in Kenitra, 40 km to the north of capital city Rabat, with the first car to be unveiled as of July.
PSA has pumped a total investment of MAD 6 billion ($620 million) into the project and has already begun staff recruitment.
Upon inauguration, the factory will produce Peugeot 208-style cars.
Peugeot targets the production of 20,000 units this year, 100,000 next year and 200,000 per year after the factory goes into full swing.
The French firm is already present in the North African country that it entered in 2017 with the establishment of a pilot import center in Casablanca for Peugeot, Citroen, DS and Opel cars, as well as a research and development center.
The cars produced in the Kenitra plant are destined for export to Africa and Middle East markets.