Peugeot 208 will be among the cars produced by Iran (AFP PHOTO / SEBASTIEN FEVAL)
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France's Peugeot Citroen (PSA) Tuesday announced its return to Iran after signing a 400 million euro ($450 million) joint venture with its old partner Iran Khodro in Tehran.The 50-50 joint venture will manufacture three models – the Peugeot 208, the 2008 sport utility vehicle and 301 compact – using parts mostly made in Iran.The French firm had to pull out of Iran, its second-largest market, in 2012 when the toughest sanctions were imposed.Nematzadeh did not name the German company, but Iran Khodro has been negotiating with Mercedes since the lifting of sanctions.
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