The Moroccan automotive industry is led by investment by French Renault-Nissan Alliance and PSA Group car companies. BYD leads the Chinese investment in Morocco. Investment is encouraged by the Moroccan government by removing certain taxes in the first five years in order to encourage the companies to come. Fiat ended its production role in Morocco in 2003 by selling its stake in Somaca to Renault. There is a small local manufacturing industry including Laraki.