Iran Khodro, Peugeot invest €100M in JV
Tehran, Iran, January 29
By Mehdi Sepahvand – Trend:
Iran Khodro and PSA Peugeot have accomplished one fifth a 2016 deal by so far investing 100 million euros in a joint company in Iran, Iran Khodro CEO Hashem Yekke Zare said.
Each of the two companies has brought 50 million euros to launch the factory whose first product, Peugeot 2008 will be out by March, he told Fars news agency January 28.
The two companies from Iran and France signed a contract June 21 to launch a joint company in Iran to produce Peugeot cars.
Iran’s share of the parts that will be used will start at 40 percent, to grow to 70 or 80 percent in two years, Zare said during the signing ceremony back then.
"We will start the production with Peugeot 2008 and then move on to models 301 and 208," he said.