South Korean automotive manufacturer SJM Flex has taken a significant step in Morocco’s thriving automotive industry by inaugurating a new 4,800 square meter plant in Tanger Automotive City. The opening ceremony saw officials from SJM and Tanger Med Group in attendance, celebrating the investment of MAD 90 million ($9 million) into the project.
The new plant is expected to create 250 jobs, with 60 hires in the first phase. By 2025, SJM Flex plans to expand its workforce further to support the burgeoning electric vehicle (EV) market. Ahmed Aoulad Dfouf, the company’s director, expressed the group’s desire to continue investing in the EV sector.
Tanger Med Zones’ General Manager, Ahmed Bennis, praised the Korean group’s decision to invest in the Tanger Med industrial platform, which boasts over 1,200 companies and strong connectivity to more than 180 international ports via the Tanger Med Port. The platform offers numerous competitive advantages, attracting significant interest from global automotive players.
Morocco’s automotive sector has become a key pillar of its economy, with exports reaching MAD 33.9 billion ($3.4 million) in the first quarter of 2023, reflecting a remarkable 44% year-on-year growth. As the North African nation revamps its policies to enhance its global competitiveness, the addition of SJM Flex’s new plant in Tanger Automotive City marks a noteworthy milestone in Morocco’s pursuit of automotive excellence.
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