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
Net profit reaches CFA413.6bn ($744m), with 21.5% margin Data and broadband fuel revenue growth of 8.3% to CFA1,923bn Board proposes CFA1,933...
Total banking assets reach CFA7,586bn ($13.7bn), up 9% year on year State-owned BIIC holds nearly 25% market share with CFA1,885.86bn in...
West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan with support from Boston Consulting Group. BOAD exceeded...
Ghana paid 10 billion cedis ($910 million) in interest under its Domestic Debt Exchange Programme (DDEP). Authorities made the payment fully in cash,...
Most Read
01

Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...

Absa Kenya Imports a Telecom Playbook in Bid to Reinvent Retail Banking
02

Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...

Safaricom launches M-Pesa platform for stock trading in Kenya
03

MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...

DRC Accuses MTN of Illegal Operations, Spotlighting Border Frequency Issues
04

Ghana has 50,000 tonnes unsold cocoa at ports Cocoa prices fell from $13,000 to around ...

After Côte d’Ivoire, Ghana Faces Cocoa Stock Build-Up as Prices Collapse
05

This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...

Weekly Health Update | Africa CDC Advances Health Sovereignty Efforts
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.