Renault eyes launching new production lines in Iran

Reporting "Asre Khodro", "The representatives of Renault would travel to Iran in near future to sign an agreement to launch a joint venture with Pars Khodro, a main subsidiaries of SAIPA, to boost its markets in Iran," the report said on Feb.19.

The report didn't mention the second model's name, but Renault aims to introduce more models such as its Clio small car and Captur mini-SUV, Reuters reported in January.

Iranian carmaker Renault Pars officially inaugurated Renault Sandero assembly line in September 22, 2015 to produce 10,000 Sandero models annually.

Renault Pars is an Iranian joint venture established in 2004 and owned by Renault and Industrial Development and Renovation Organization of Iran (IDRO).

Renault was a major player in Iran, with around 10 percent of the market, before sanctions curtailed its activities in 2011.

After western sanctions on Iran, Renault's factories decreased working at around 15- 20 percent capacity, but the company hopes to triple or quadruple its output in the coming years, the Managing Director at Renault Middle East, Peyman Kargar told FRANCE 24 in August 2015.

Source: trend.az