French Company Peugeot Receives Official Investment License for Iran

Jean-Christophe Kamar, Deputy and Regional Director for Africa and West Asia at Peugeot, announced the issuance of an official investment license for this French automaker in Iran. According to a report from the French site 'Challenge', Kamar stated that Peugeot received the official investment license last week and that a joint company between Peugeot and Iran Khodro will be established in Iran by next summer. The French automotive group Peugeot-Citroën has recently resumed the delivery of car parts to Iran Khodro after a four-year halt. Peugeot signed a contract to establish a joint company with Iran Khodro during Iranian President Hassan Rouhani's visit to Paris in February 2016, under which each party will hold 50% of the joint shares. Kamar had previously stated in an interview with the Iranian newspaper 'Iran' and the news site 'Asr Khodro' that the production and supply of Peugeot models 208, 2008, and 301 would be the priority for this French automaker in Iran. He also mentioned that negotiations about producing models 308 and 508 in Iran have taken place, but have 'not yet reached a final conclusion.' Kamar further noted that Iran is a challenging country, and after many months of negotiations, this Peugeot plan managed to gain Hassan Rouhani's support. The regional director of Peugeot described the contract between the two automakers as beneficial for both parties. Some automotive industry experts in Iran have predicted that car production numbers in Iran will exceed one million units by the end of this year, indicating a 15% increase in production levels.