PSA group reaches deal to make 200,000 cars a year in Iran

October 5, 2016 3:23 PM

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PSA group reaches deal to make 200,000 cars a year in Iran

TEHRAN, Iran – French carmaker PSA Peugeot Citroen has reached a deal with Iran's biggest carmaker to open a plant producing 200,000 vehicles a year, renewing an old partnership with Iran Khodro Co following the lifting of international sanctions.

The two companies showcased five models on Wednesday to be produced by IKAP, a joint venture first announced in January during a visit to France by Iranian President Hassan Rouhani.

Also read: Iran: US Threatens Nuclear Deal, Warns of 'Strong Reaction'

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