How do you say “Back in the race” in Farsi? PSA formalized Thursday his return to Iran. The French manufacturer will create by the end of December a joint venture with Iran Khodro, thirty years his partner. The duo each hold 50% stake, and will inject 400 million euros to modernize Khodro factory, located a few kilometers west of Tehran. “Iran deserves that effort. We have a long tradition in this market “, says Carlos Tavares, Chief Executive of PSA.
” To my knowledge this is the first co-investment agreement signed in the car since the lifting of sanctions “, says Jean-Christophe Quémard, one of those who led complex negotiations for eighteen long months. “The positions were not naturally converging” , admits Carlos Tavares. The sudden withdrawal of PSA in 2012 had been “logically resented by our Iranian colleagues, we had to exceed these injuries without bitterness, without bitterness” , details the leader, who said that PSA was “left the duress country.” The manufacturer then considering a marriage with General Motors, for whom the “ business ” with Tehran was proscribed.
200,000 vehicles per year
A small national drama, as Leo is in court in Iran. In fact, three or four million Peugeot circulating in the country. In reality Khodro continued work (without having the right) of 405 and 206, from parts found in the region. In 2015, some 350,000 counterfeit Peugeot were produced in the suburb of Tehran. PSA holds so, virtually, yet 30% market share there. But all these vehicles are returned or in its accounts or in its statistics.
This incongruity, an argument that certainly has served PSA during the negotiations coming to an end. Soon in place, the joint venture will seek to replenish Khodro and parts dealership network, while preparing to produce 200,000 vehicles per year. The assembly of 2008, 301 and 308 – the chosen models – is expected to start the second half of 2017, at a rate of 15 vehicles / hour. More than 40% of parts of future vehicles will be manufactured locally, as requested by the Iranian authorities. Return conditions – “a package” – are “acceptable” , says Carlos Tavares, which always seeks to integrate Citroën in the Iranian situation. A priori, the associated potential of the brand to the rafters will not Khodro, Saipa but another local player. With that the brand had heard before 2012 …
Renault wants to be more present in Iran
Unlike PSA, Renault never left Iran and has sold 51,000 cars in 2015, a market share of 4.8%. On Thursday, the group said it will intensify its activities in the country and “prepare, with its two partners [SAIPA and Iran Khodro, Ed], new models launches” . Renault assembles in Iran local versions of the models ‘low-cost’ Dacia Logan and Sandero and a small pickup.
Iranian Industry Minister Mohammad Reza Nematzadeh, part of the official visit to Paris, confirmed that negotiations are underway with other French manufacturers but cautioned that no agreement would be finalized several months.
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