Baku, Azerbaijan, Feb. 5
By Farhad Daneshvar – Trend:
Two leading Iranian and French carmakers are planning to introduce three new brands in near future.
IKAP, a joint venture between Iran-Khodro and Peugeot, is slated to unveil its first joint brand and launch its production line in March, ISNA news agency reported.
The production lines of the second and third brands are expected to be launched in summer and autumn.
Iran Khodro Company-PSA joint venture officially started to operate last September.
Iran Khodro and PSA Peugeot have so far invested 100 million euros in the joint venture as part of a deal reached between the two countries in 2016.
It was earlier announced that Iran’s share of the parts that will be used will start at 40 percent, to grow to 70 percent in two years.