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.
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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