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PSA Aims to Export Iranian-Made Cars
PSA Peugeot Citroen tells Automotive News Europe it plans to set up vehicle assembly in Iran and export some of its output there.
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PSA Peugeot Citroen tells Automotive News Europe it plans to set up vehicle assembly in Iran and export some of its output there.
PSA will set up a 50:50 venture with local partner Iran Khodro, according to ANE. An Iranian news report says the partners plan to export 30% of their production to countries in the region.
ANE notes that PSA and Iran Khodro stopped assembling previous-generation Peugeot 206 and 405 sedans from kits three years ago under pressure from General Motors Co., which owned 7% of PSA at the time.
PSA says there are 350,000 Peugeot-badged cars on the road in Iran. Analysts say sanctions against Iran cost PSA about €120 million in annual earnings.
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