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IKCO & Peugeot to set up joint company

: Sunday, July 27 - 2014 @ 13:57

Iran Khodro and PSA are determined to set up a joint Company so as to use each other’s capabilities in the fields of research and development and production of new vehicles as well as export.

Based on remarks by IKCO CEO and President Hashem Yekehzare in the company’s annual general assembly held on Tuesday 22 July 2014, Iran Khodro and Peugeot will establish a joint company on a 50/50 partnership agreement.

In the meantime, the two CEOs discussed design and development of a joint product and its export to other markets.

The production of Peugeot 301 and 2008 in the first phase of cooperation and establishment of a research and development center with Peugeot Company as well as rolling out a joint product with the help of Iranian part makers were other items, agreed upon in this joint cooperation contract.

Yekehzare also referred to his company’s agreement with Renault Company and added, “In the first stage of cooperation with Renault, Clio 4 and Capture will hit the market in the 2H”. Clio 4 is a small car, sipping 5 liters of gas per 100km.”

Earlier IKCO CEO emphasized his company’s plan to introduce 10 to 15 new products within three years and declared that three of them would carry IKCO brand.

For more info please contact:
Hassan Bananej
Head of Int’l Media & Associations
IKCO Communication and Int’l Relations Dept
Tel: +982148228445
Fax: +982148228499
E-mail: [email protected]

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Sunday, July 27- 2014 @ 13:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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