Iranian and French automakers in a new car business
French automaker starts joint venture to build Citroen cars in Iran.
French carmaker PSA Peugeot Citroen signed a multi-million euros to build and sell Citroen cars in Iran The preliminary agreement is the latest most important step in the automaker in its return to the Iranian market.
PSA Peugeot Citroen signed a preliminary agreement to invest more than 300 million euros 330 million to make and sell Citroen cars in Iran, the French automaker the company announced Thursday.
Our goal is to provide our Iranian customers with modern vehicles that meet the highest standards of comfort, safety and technology, PSA CEO Carlos Tavares in a statement.
The joint venture with SAIPA, partner of the automaker in Iran before the sanctions imposed on the country, give each company a 50 percent PSA manufacture cars in a factory in Kashan, south of the capital Tehran, and hopes to have the first batch of 2018 Citroens terminated.
The company Saipa and PSA aims to build 150,000 cars a year in five years and will include three Citroën models that have been specially designed for the Iranian market, PSA said.
The preliminary agreement follows a PSA agreement last month with former partner Khodro The agreement of 400 million euros would partner to build 200,000 Peugeot vehicles per year by 2018.
PSA was one of the first Western carmakers to announce a return to the country while many economic sanctions against Iran were lifted in January, following a historic nuclear deal with world leaders.
Quick to return to a familiar market, the French company has sealed a joint venture with the Iranian car maker Khodro car production in the Islamic Republic is expected to surge after the lifting of sanctions June 21, 2016.
Progress comes in small steps a year after Iran nuclear deal.
It was a historic diplomatic success nuclear deal Iran Tehran halted its nuclear program, sanctions have been lifted, and Iran came out of isolation again, the disappointment is more July 14, 2016.
Many Iranians still feel the benefits of the nuclear deal.
Peugeot-Citroen strikes deal with GM to buy Opel Vauxhall-June 3, 2017.
The French company Peugeot and Citroën has entered into an agreement to buy General Motors GM Europe unit, including the Opel and Vauxhall brands PSA is becoming the second largest European car manufacturer.
Quick to return to a familiar market, the French company entered into a joint venture with Iran Khodro car manufacturer producing cars in the Islamic republic should rise after the lifting of sanctions.
Opel-PSA contracts entering final straight 3 March 2017.
An agreement on the resumption of French carmaker PSA of the European division of GM appears to be just around the corner The breakthrough is likely to be officially announced Monday.
French automaker starts joint venture to build cars Citroen Iran News, French, the automaker begins, seal.
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