Automotive manufacturer Stellantis invests in Africar Group to launch its services in Ivory Coast

IVORY COAST – Stellantis, a multinational automotive manufacturing corporation, has invested in the Africar Group, the first automotive marketplace in Africa, to launch Auto24 activities in Abidjan, Ivory Coast. Auto24 is a direct-to-consumer used car company that brings solutions to help ensure transactions are conducted in a transparent and secure way. With the African population set to reach 1.7 billion…

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Automotive group Motus secures investment from Standard Bank

SOUTH AFRICA – Standard Bank, a financial services group, has led the arrangement of a R6 billion (US$355.64m) sustainability-linked term facility and a R800 million (US$47.42m) sustainability-linked working capital facility for Motus, the first ZAR-based sustainability-linked funding in the South African automotive sector. As a leading automotive group, with an unrivalled scale and scope in South Africa, the funding package…

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Automotive startup Autochek acquires CoinAfrique to accelerate its expansion in Francophone Africa

NIGERIA – Autochek, the Nigerian automotive startup, has accelerated its expansion to Francophone Africa after acquiring CoinAfrique for an undisclosed amount. CoinAfrique is the leading platform for classified ads in French-speaking Africa, and this acquisition will see Autocheck penetrate its auto financing services in Senegal, Côte d’Ivoire and other French-speaking African countries. Founded in 2016 by Matthias Papet and Eric…

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Ford’s Silverton Assembly Plant launches 13.5MW solar power, covering 35% of electricity needs

SOUTH AFRICA – Automaker Ford South Africa’s (Ford SA’s) Silverton assembly plant, in Pretoria, which produces the Ranger pickup for the domestic and export markets, has officially started sourcing 35% of its electricity needs from solar photovoltaic (PV) energy generation. Ford SA has a long-term power purchase agreement in place with SolarAfrica, which installed PV carports for 3,610 vehicles at…

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Automobile manufacturer Nissan unveils assembly plant in Ghana

GHANA – Nissan Motor Co., a Japanese multinational automobile manufacturer has officially unveiled assembly point in Tema, Ghana. The president of Ghana, HE Nana Addo Danquah Akufo-Addo, officially opened the brand-new state-of-the-art Nissan Navara assembly plant in Tema, outside Accra. The plant is the culmination of a journey that began in 2018 when Nissan became the first mover in the…

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Autotech startup Fixit45 launches its platform for car owners

NIGERIA – Fixit45, an autotech startup, has launched its one-stop-shop platform for car owners, helping to connect them with a variety of necessary services. Fixit45 was launched in its current iteration in July of 2021, but the business and the model has evolved over the course of the last two years or so. “So, before Fixit45 became a standalone brand…

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European auto parts company Aptiv set to construct US$43.8 million automotive plant in Morocco

MOROCCO – Aptiv, the European auto parts company, has entered into an agreement with the Council of the Oriental Region (CRO), the Regional Investment Center (CRI) of the Orient, and provincial authorities of the Oriental region of Morocco to bring to the region a new automotive plant with approximately US$43.8 million in investment funds. The new auto factory’s construction is…

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Automotive marketplace Contactcars.com acquires Sa3ar Technology Solutions

EGYPT – Contactcars.com, an automotive marketplace, has announced the acquisition of Sa3ar Technology Solutions, a platform that provides car valuation technology and a dealer-specific auction platform. Contactcars.com, a subsidiary of Contact Financial Holding, continues to evolve and look for new opportunities to provide the automotive ecosystem with innovative value-added services. With the acquisition of Sa3ar Technology, founded by Adham Hosny…

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Stellantis extends partnership with Morocco to produce electric cars

MOROCCO – Stellantis (formerly PSA), a Dutch-domiciled multinational automotive manufacturing corporation, has extended its partnership with Morocco to produce electric cars in the Citroen Ami assembly plant in Kenitra. The Kenitra plant will also produce the Opel Rocks-e, an electric car recently launched on the international market by German carmaker Opel, a subsidiary of the Stellantis group. It is a…

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