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French car maker PSA Group opens production plant in Morocco
RABAT, June 20 (Xinhua) — The French car manufacturer PSA Group inaugurated on Thursday a production plant near Morocco's northern coastal city of Kenitra, the Moroccan government said.
“This is the first PSA industrial complex in Morocco and is based on the creation of a complete automotive ecosystem,” Jean-Christophe Quemard, vice president of PSA for the Middle East and North Africa region, told reporters.
With an investment of 560 million euros (632 million U.S. dollars), this plant plans to produce 200,000 car engines and 100,000 cars per year by 2020, he said.
The group expects that 90 percent of the plant's products will be exported, especially to the rest of Africa and the Middle East.
This is Morocco's third automobile production plant. French Renault operates a plant in Casablanca, which manufactures 80,000 cars annually, and another site in the northern city of Tangier which has an annual production of 340,000 cars.
Renault and Nissan end standoff over post-Ghosn governance
Renault announced on Thursday that it had reached an agreement with its partner Nissan on the Japanese carmaker’s governance overhaul, paving the way for the French company to back changes decided in the wake of the Carlos Ghosn scandal.The company’s chairman Jean-Dominique Senard will sit on Nissan’s new appointments committee, and CEO Thierry Bollore will sit on the audit committee.Since then Nissan has accused Renault of having too much weight in the alliance, and of keeping it in the dark over its tie-up plans with Fiat Chrysler (FCA).
French auto giant PSA opens factory in Morocco
PSA’s French rival Renault moved into Morocco in 2012, opening its largest car assembly plant in Africa and creating 7,000 people. Kenitra: French automotive giant PSA on Thursday opened a factory in Morocco to assemble 100,000 cars per year as it seeks to double sales in the Middle East and Africa region. The factory, launched… Continue reading French auto giant PSA opens factory in Morocco
Indian two-wheeler rental startup Vogo in talks to raise up to $50m
Vogo Automotive Pvt. Ltd, which offers bikes on rent, is in talks to raise $40-50 million as equity to fuel its growth plans, said two people familiar with the matter, requesting anonymity. The Bengaluru-based startup, which operates under the brand Vogo, has mandated Mumbai-based investment bank Avendus Capital for the latest fundraise, said the first… Continue reading Indian two-wheeler rental startup Vogo in talks to raise up to $50m
Nissan grants Renault execs boardroom seats, ending dispute
FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Bordeaux, France, June 12, 2019. REUTERS/Regis Duvignau/File Photo TOKYO/PARIS (Reuters) – Japan’s Nissan said on Friday it would grant alliance member Renault’s representatives seats on key committees of its board, ending a dispute between the two automakers.… Continue reading Nissan grants Renault execs boardroom seats, ending dispute
Look inside innovation powerhouse Marchant Cain’s new Coventry factory
“ Marchant Cain is a company born out of a desire to solve problems that others can’t. We visited their new factory in Coventry to find out more. The company is an expert in window regulators for supercars, “It is crazy,” Pam Cain, director at Marchant Cain tells me. “We will have done the same… Continue reading Look inside innovation powerhouse Marchant Cain’s new Coventry factory
JLR will not be sold to any manufacturer, says CEO
Jaguar Land Rover has given its strongest indication yet that the company will not be sold to Peugeot–Citroen, Fiat–Chrysler, Hyundai–Kia or any other motor manufacturing groups hoping to buy their way into the premium car and luxury SUV markets. Dr Ralph Speth, JLR’s CEO, concedes that his British-based company is currently going through a financially… Continue reading JLR will not be sold to any manufacturer, says CEO
Renault and Nissan partner with Waymo to develop self-driving services
The Renault-Nissan alliance has signed an exclusive deal with Google’s sister company Waymo to develop self-driving services in France and Japan.The tie-up between the car-makers and the autonomous vehicles company will focus on “all aspects” of driverless mobility services for moving people and goods.The deal does not currently extend to working together to build autonomous vehicles – unlike Waymo’s previous tie-ups with Jaguar Land Rover and Chrysler.
Renault will vote to back Nissan’s move to give it boardroom seats
FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Bordeaux, France, June 12, 2019. REUTERS/Regis Duvignau/File Photo PARIS (Reuters) – French carmaker Renault, which is looking to preserve and strengthen its alliance with Nissan, said it would vote in favor of a move by Nissan to… Continue reading Renault will vote to back Nissan’s move to give it boardroom seats