During Iranian President Hassan Rouhani's state visit to Paris, PSA Peugeot Citroën, which has operated in Iran for more than 30 years, and Iran Khodro signed a joint venture agreement to produce latest-generation vehicles in Iran.
This 50/50 joint venture lays the foundations for a strategic partnership between the two companies. This joint venture is expected to invest up to €400 million over the next five years in manufacturing and R&D capacity. This investment will contribute to facilitate the development of a competitive manufacturing base for producing, launching and marketing Peugeot 208, 2008 and 301 models, fitted with latest-generation engines.
The agreement provides for: