IKCO signs cooperative agreement with Renault and Peugeot

August 4, 2014 1:50 am

Iran Khodro Company (IKCO), has declared plans to cooperate with French automakers Renault and PSA Peugeot Citroen to produce four new vehicles in Iran, Zawya has reported. IKCO Chief Executive Officer Hashem Yekkeh-Zare’ said on Saturday the Iranian carmaker will produce Peugeot 301 and Peugeot 2008 as part of its mutual cooperation with PSA Peugeot Citroen. Yekkeh-Zare’ noted that Iran Khodro and Peugeot will establish a joint venture with equal shares for car manufacturing. “IKCO will also manufacture Clio4 and Capture under an agreement with Renault,” he said The automakers hope to return to Iran market, as Iran and the five permanent members of the UN Security Council–China, Russia, Britain, France, and the United States–plus Germany, sign a final deal on the Islamic Republic’s nuclear energy program with a view to lifting all sanctions against Tehran. The two sides have set a November-24 deadline for finalizing the deal in Vienna, Austria.