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)
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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.



Apple’s China Market Share Shrinks as Huawei Surges, Data Shows 

A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)
A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)
TT

Apple’s China Market Share Shrinks as Huawei Surges, Data Shows 

A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)
A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)

Apple's market share in China shrank by two percentage points in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys.

The decline underscores the difficulties the US tech giant faces in its third-largest market.

Huawei's smartphone shipments surged 41% year-on-year in the quarter, bolstered by the launch of its new Pura 70 series in April.

The Canalys data, while not providing specific shipment figures for Apple, showed that the company's market share in China dropped to 14% in the second quarter of 2024, a decrease from 16% in the same quarter of 2023.

As a result of this decline, Apple's ranking in the Chinese smartphone market fell from third to sixth place.

Overall, China's smartphone shipments rose by 10% in the quarter, Canalys said. Vivo was the top vendor with a share of 19%, followed by Oppo, Honor and Huawei with 16%, 15% and 15% respectively.

"Domestic manufacturers have demonstrated market leadership, occupying the top five positions in the mainland Chinese market for the first time in history," said Lucas Zhong, research analyst at Canalys.

"On the other hand, Apple faces growth pressure in the Chinese market and is actively focusing on optimizing channel management."

Huawei made a comeback to the high-end smartphone segment last August with the release of a device powered by a domestically-made chip, defying US sanctions that have cut off its access to the global chipset supply chain.

In an effort to boost sales, Apple has ramped up its discounting efforts this year to entice consumers. The US company launched an aggressive campaign in May, doubling the scale of an earlier promotion in February and offering price cuts of up to 2,300 yuan ($318.84) on select iPhone models.

Analysts expect Huawei's strong performance to continue throughout the year. Canadian research firm TechInsights projected earlier this year that Huawei's overall smartphone shipments in China will exceed 50 million units in 2024, with the Pura 70 series accounting for 10 million of those shipments.

That would make Huawei the No. 1 seller with a 19% market share, up from 12% in 2023, TechInsights has said.