The Stellantis Group has announced its acquisition of Sopriam, the leading distributor of Peugeot, Citroen and DS vehicles in Morocco, with the aim of strengthening its presence in the local automotive market and implementing more sustainable mobility on the African continent.
Stellantis takes control of Peugeot, Citroen and DS in Morocco
So Stellantis continues its expansion as it seeks to increasingly confirm its leading position in the automotive market worldwide. More specifically, we are now talking about the Moroccan market, in which the acquisition of Sopriam, i.e., a historic distributor in Morocco of the Peugeot, Citroen and DS brands, has been announced. The operation was planned to be carried out in two phases. The first is for immediate majority control, and then the full acquisition of 100 percent of the shares will take place by early 2025.
A distinctly strategic step in what could certainly be a positive future for mobility in Morocco. This acquisition represents one of many other key steps for Stellantis, which will thus be able to manage directly and without intermediaries the import and distribution of its this one. Certainly the purpose of this acquisition is to optimize synergies and to be able to offer a customer experience that is as complete and unified as possible.
Stellantis in Africa: target Morocco with 22 percent market share by 2030
The Sopriam buyout is, evidently, part of the larger context of greatly strengthening the Stellantis group’s presence in Africa, as it is currently a continent with enormous growth potential. The group, as it has already done in many other parts of the world, has already invested quite significantly in Morocco, with the establishment of the first Africa Technical Center (ATC) in Casablanca. Moreover, the factory in Kenitra has also been expanded, which through this integration will now be able to double its production capacity to 400,000 vehicles by 2027.
Like mentioned, the big goal of Stellantis is to become the leader in the Moroccan market by going on to own more than 22 percent market share by the year 2030. A seemingly somewhat more ambitious goal that would be realized by offering a much wider range of vehicles, innovative mobility solutions, and cleaner, safer, and more accessible mobility options to a larger number of users.
Stellantis always puts a great deal of effort into maintaining the high quality standards that have always distinguished it and to work with Sopriam and its entire management teams to ensure a smooth transition and shared success between the parties. The Sopriam acquisition therefore represents another important milestone in Stellantis’ path as it continues on its journey into a more environmentally sustainable and mobile automotive market for Morocco and the entire African continent.