Stellantis announced a two-stage acquisition of Sopriam, a subsidiary of the Al Mada group. They will take immediate majority control, followed by a full purchase of shares in early 2025. The company said this will allow them to handle import and distribution of Peugeot, Citroën, and DS Automobiles brands in Morocco, similar to their existing network for Fiat, Abarth, Jeep®, and Alfa Romeo. This acquisition marks a new chapter for Stellantis in Morocco, building on their strategic partnership with the Moroccan government begun in 2015. Stellantis's MEA chief, Samir Cherfan, said the acquisition strengthens their commitment to developing Morocco's automotive industry. «Their Kenitra plant is already positioned among Stellantis' best industrial sites», he said, «fully contributing to the Group's regional ambitions to reach an annual production capacity of one million vehicles by 2030, with local integration exceeding 90%». He also highlighted ambitions to «become Market Leader with more than 22% market share by 2030, in line with the Dare Forward 2030 strategy». Yves Peyrot des Gachons, General Manager of Stellantis Morocco, promised customers «access to a wider range of vehicles» with «ever more innovative mobility solutions». Finally, the statement announced that at its July 22nd board meeting, Samir Cherfan was appointed Chairman of Sopriam's Board of Directors and Yves Peyrot des Gachons was named General Manager.
