Reporting "Asre Khodro", The first European tour of the Iranian President Hassan Rouhani concluded in January with a business deal for Peugeot Citroen, as it announced it has reached to a preliminary agreement for a ۵۰:۵۰ venture with Iran Khodro, its long-time partner in pre-sanction period and the biggest automaker in the country. Both companies have now said they finally signed the final joint venture deal that would lead to a ۴۰۰-million-euro investment over the next five years in manufacturing and R&D operations for revamping the ۵۰ years old factory near Teheran. The French automaker plans to locally launch the Peugeot ۲۰۸ hatchback, ۲۰۰۸ crossover and ۳۰۱ sedan, with the first vehicles expected to roll off the production line there in the second half of ۲۰۱۷.
Peugeot withdrew from the Iranian market in ۲۰۱۲ as a result of sanctions over the country’s nuclear program, which extended at that time to the automotive industry as well. Before the forced exit, the French automaker sold ۴۷۳,۰۰۰ units in ۲۰۱۱, being the biggest-selling European carmaker at that time, on a market that peaked at ۱.۶ million vehicles. It should regain this level within ۲ years, reaching ۲ million units on an annual basis by ۲۰۲۲, PSA estimated. Iran’s auto market has become once again a very luring sector for the global automakers and many of them announced their plans for a reentry.
Source: inautonews.com
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