La Vie Eco: Renault to produce low-cost cars in Morocco as of 2005
Morocco-France, Business, 5/17/2003

The French group Renault will start producing the economical car "Dacia" in Morocco as of 2005, the weekly "La Vie Eco" reports on Friday.

The Moroccan ministry of industry, trade and telecommunication and the French car-maker (Renault) have recently signed an agreement on the production of the Romanian brand Dacia, purchased by Renault in September 1999, the paper said, adding that some 220 million Dirhams ($22 million) have been invested by Morocco's car construction company (SOMACA) for this end.

Under the convention, some 30,000 cars will be produced in the kingdom. Half the number will be exported and the rest marketed in Morocco at a price of 70,000 Dirhams ($7,000). La Vie Eco recalls that the convention binding Morocco to the Italian group Fiat, the first low-cost car making company in Morocco, ends December 2003, and will not be renewed.

"Marketing two small cars is impossible, the paper said, quoting the department. Fiat stocks will meet the demand until 2005, then it will be relayed by Dacia."

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