Finance

Renault, Schneider, M2M team up to make first 100% “made in Morocco” electric car

Wednesday, 21 September 2016 19:55

A Consortium composed of Renault-Nissan, Schneider Electric, Moroccan M2M and State-backed firm ADEREE (National Agency for the Development of Renewable Energy and Energetic Efficiency) has initiated in the framework of the COP22, a project which aims to conceive the first “made in Morocco” electric car. The four entities are deploying all efforts to unveil the major lines of the project on Sept 22, 2016.

The first demonstration of the electric car will take place at the COP22 which will be held in Marrakech from November 7 to November 18 this year, website UsineNouvelle reports.

Electric cars which will carry the participants during the event are Twizy, Kangoo, Zoé, Leaf or Evalia.

The consortium wants 10% of car park is composed of electric cars by 2030.

However, the main roadblock to achieving this goal is the relatively high cost of the cars. They are indeed not affordable to all. To overcome this handicap, the State plans to implement various tax policies such as reducing VAT and vignettes.

Alain Okpeitcha

On the same topic
CEMAC non-performing loans fall to 16.0% in 2025, BEAC says Lending rises 10.7% despite tighter liquidity and higher borrowing costs Growth,...
Investec secures $200 million IFC loan for green housing finance Funds to support eco-buildings, affordable green home loans in South...
“Keur Samba” securitization bonds begin trading on the BRVM Operation backed by NSIA Banque CI and Orabank CI totals CFA52 billion Move aims...
Witti Finances Holding acquired a majority stake in Kajas Microfinance, entering the Senegalese market. The firm rebranded the entity as Witti...
Most Read
01

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...

In Africa, Banks Face a New Rival: Telecom Operators
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.