Israel is showing keen interest in importing electric cars from Morocco, which has become an advanced base for car production destined for European markets, reported by Globes-Business News.
Israel’s interest comes as Morocco’s domestic car production exceeded 472,000 vehicles last year. In a bid to boost trade ties, Israel is considering a potential free trade agreement with Morocco to reduce the existing 7% customs duties on imported electric cars and batteries.
Top executives from Israeli automotive companies recently held meetings with Moroccan government officials and business leaders to explore opportunities for collaboration. Discussions centered around encouraging Morocco to export its locally manufactured cars to Israel.
The Moroccan government’s strategic plan to establish itself as a hub for electric car production and battery exports has already yielded positive results.
The government’s attractive incentives for investors in this sector have attracted significant investments from global players like Stelantis. The company plans to make substantial investments to increase production capacity, aiming to produce around 400,000 electric cars annually. Included in their plans are the production of small electric cars, such as the Fiat Topolino, scheduled for export to Israel.
In addition to Stelantis, Renault has also expressed its intention to set up a new production line in Morocco, with plans to introduce a novel hybrid car to the Israeli market in the coming year.
These developments underscore Morocco’s growing prominence in the electric vehicle industry and its commitment to adopting sustainable technologies. Israel’s interest in deeper economic cooperation with Morocco reflects the kingdom’s potential as a key player in the global electric car market.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.