Somaca () is a Moroccan car manufacturer founded in 1959 by
Fiat
Fiat Automobiles S.p.A., commonly known as simply Fiat ( , ; ), is an Italian automobile manufacturer. It became a part of Fiat Chrysler Automobiles in 2014 and, in 2021, became a subsidiary of Stellantis through its Italian division, Stellant ...
company
Simca
Simca (; Mechanical and Automotive Body Manufacturing Company) was a French automaker, founded in November 1934 by Fiat S.p.A. and directed from July 1935 to May 1963 by Italy, Italian Henri Pigozzi. Simca was affiliated with Fiat and, after Simc ...
and currently owned by the French company
Renault
Renault S.A., commonly referred to as Groupe Renault ( , , , also known as the Renault Group in English), is a French Multinational corporation, multinational Automotive industry, automobile manufacturer established in 1899. The company curr ...
.
History
The company was founded in 1959 in by Moroccan government with technical assistance from
Fiat S.p.A. and its French subsidiary,
Simca
Simca (; Mechanical and Automotive Body Manufacturing Company) was a French automaker, founded in November 1934 by Fiat S.p.A. and directed from July 1935 to May 1963 by Italy, Italian Henri Pigozzi. Simca was affiliated with Fiat and, after Simc ...
. Fiat ended its production in the end of 2003 and 26% of the company was sold to Renault.
In 2005 Renault bought the majority stake (54%) of Somaca from Fiat S.p.A. now totalling 80% stake.
Factory
The factory has a covered area of 90,000 m
2. It has 1,200 employees and two production lines and assembles the Kangoo and the Kangoo Express (since 1999) for the local market, and the
Dacia Logan (since 2005) for export to French and Spanish markets. Since 2009, SOMACA is also manufacturing the Sandero.
That year it produced 41,236 vehicles.
Other Renault operations in Morocco
In February 2012
Carlos Ghosn
Carlos Ghosn (; ; ; , born 9 March 1954) is a businessman and former automotive executive. He was the Chief Executive Officer (CEO) of Michelin, Michelin North America, chairman and CEO of Renault, chairman of AvtoVAZ, chairman and CEO of Nissan ...
and
king Mohammed VI inaugurated the
Renault Tanger Méditerranée factory in
Tangiers, specialised in the manufacturing of low-cost cars. It covers 300 hectares, with a production capacity projected to reach 400,000 units per year. The Moroccan press had announced that this target would be attained by 2013,
however only 100,000 vehicles were produced between February 2012 and September 2013.
The Tangiers factory belongs to a company called "Renault Tanger Mediterranée", a joint venture between Fipar-Holding (a subsidiary of the Moroccan pension fund
Caisse de dépôt et de gestion) which controls 47.6% of the shares
and
Renault SAS.
In addition to an initial investment in 2008-2009 of MAD1 billion of loans contracted from Moroccan banks, the factory was financed by a €400 million investment, with Fipar-Holding providing €200 million and €173.5 million from the Moroccan state through a loan from the European Investment Bank.
Renault cars in Morocco are distributed by Renault Maroc. a joint venture between Renault SAS and
SNI (Mohammed VI's holding company) which controls 20% of shares.
Renault and Dacia cars in Morocco benefit from
Non-tariff barriers to trade
Non-tariff barriers to trade (NTBs; also called non-tariff measures, NTMs) are trade barriers that restrict imports or exports of goods or services through measures other than the imposition of tariffs. Such barriers are subject to controversy and ...
advantage; their cars are sold on a 7%
VAT whereas other brands are sold on 20%VAT.
References
External links
Official Somaca website
{{Authority control
Car manufacturers of Morocco
Vehicle manufacturing companies established in 1959
1959 establishments in Morocco
Fiat
Renault