King Mohammed VI Presides over Presentation of Two Moroccan-Made Cars

Morocco’s King Mohammed VI presides over the unveiling of the vehicles. (MAP)
Morocco’s King Mohammed VI presides over the unveiling of the vehicles. (MAP)
TT

King Mohammed VI Presides over Presentation of Two Moroccan-Made Cars

Morocco’s King Mohammed VI presides over the unveiling of the vehicles. (MAP)
Morocco’s King Mohammed VI presides over the unveiling of the vehicles. (MAP)

Morocco’s King Mohammed VI presided on Monday over the presentation ceremony of a model of the first Moroccan car brand and a hydrogen-powered vehicle prototype. The event was held at the Royal Palace in Rabat.

The projects, developed by Moroccan entrepreneurs, will strengthen the “Made in Morocco” label and establish the country as a competitive hub for automotive production.

Neo Motors has set up an industrial factory in Ain Aouda, southeast of the capital, to manufacture vehicles for the local market and for export, reported the MAP state news agency.

The factory is projected to produce 27,000 cars a year and create 580 jobs. Investment in the project is worth 156 million dirhams ($15.6 million).

In February 2023, the National Agency for Road Safety granted final approval for Neo Motors’ first vehicle. The company launched pre-production, with the plant’s inauguration scheduled for June 2023.

Neo Motors CEO Nassim Belkhayat said the newly unveiled car operates on benzine and is available with three doors, noting that it is the outcome of “the work of an enthusiastic team”.

The vehicle will be sold in the Moroccan market for prices ranging between 170,000-190,000 dirhams ($17,000-$19,000).

The prototype of the hydrogen vehicle, NamX, was designed in collaboration with Italian car design firm and coachbuilder, Pininfarina.

The HUV model will be supplied with hydrogen through a central tank that will be completed by six removable capsules, guaranteeing a battery capacity of up to 800 km and facilitating the hydrogen recharge in a few minutes.

The production of the car will start in late 2026 and will be sold in Morocco and exported to Europe and the US.

On the sidelines of the ceremony, King Mohammed VI honored Belkhayat and NamX President Faouzi Annajah with a medal of intellectual merit.

The ceremony was attended by Minister of Industry and Trade Riad Mazour, who expressed the country’s pride in its latest car innovation.



AI Cloud Provider SMC Plans Global Rollout

People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights
People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights
TT

AI Cloud Provider SMC Plans Global Rollout

People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights
People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights

Singapore-headquartered AI cloud provider Sustainable Metal Cloud (SMC) is planning to expand globally as its sees fast-growing demand for its energy saving technology, its CEO said on Thursday.

"Due to client demand, we’re looking to expand in EMEA (Europe Middle East and Africa) and North America," CEO and co-founder Tim Rosenfield said, Reuters reported.

The startup, a partner of AI chip giant Nvidia, already operates what it calls "sustainable AI factories" in Australia and Singapore and is set to launch in India and Thailand.

Its clients in Singapore, where it operates over 1,200 of Nvidia's high-end H100 AI chips, include Facebook owner Meta who uses SMC's cloud to run its Llama 2 AI model.

While most data centres depend on air cooling technology, SMC uses immersion technology, submerging servers from Dell fitted with GPUs (graphics processing units) from Nvidia in a synthetic oil called polyalphaolefin to draw heat away faster.

The technology behind the approach reduces energy consumption by up to 50% compared to traditional air cooling, according to the CEO.

Demand for AI is expected to increase 10-fold compared with 2023, according to the International Energy Agency (IEA).

The electricity consumption of data centres globally is expected to top 1,000 terawatt-hours in 2026, roughly equivalent to Japan's total annual consumption, the IEA said in March.

SMC is currently raising $400 million in equity and $550 million in debt according to a source with direct knowledge of the matter.

The company declined to comment. The fundraising was first reported by Bloomberg.