A view of a new Peugeot 308 car by French car maker PSA Peugeot Citroen on an assembly line at the company's factory in Sochaux, eastern France, on March 6, 2014. AFP PHOTO / SEBASTIEN BOZON
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French carmaker Peugeot is to provide Iran Khodro with 427 million euros in debt waivers, bonuses and discounts under their first post-sanctions deal, the Iranian manufacturer said Sunday.Iran Khodro signed a deal with Peugeot during President Hassan Rouhani's trip to France last month to form a joint venture that is expected to invest up to 400 million euros ($436 million) over five years.Peugeot will also offer 311.6 million euros in discounts, he said, including 140 million euros in royalty fees for cars made under Peugeot's name.As part of last month's deal, Peugeot and its French partner Citroen will work with Iran Khodro to eventually produce 200,000 vehicles a year using parts manufactured in Iran.
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