Renault will invest in production in Iran

Pccording to the AP, the agreement with Renault is the most ambitious in the history of the Iranian automobile industry. The project is planned in two stages. The first investment of the French company will be 660 million euros.
Renault Duster

In the first phase the company will be able to produce up to 150 thousand cars next year. In the process of implementation of the second phase, on which negotiations are not yet completed, 2019, production will reach 300 thousand cars a year.

Renault Symbol

“60% of the shares of the joint venture will be owned by Renault and the rest to Iran. From the Iranian share of 40% IDRO will control 20%, and the private sector (Negin Khodro company is the official distributor of Renalut in Iran) — the rest”, — said the Chairman of the IDRO Mansoor Moazzami.

The headquarters of Renault in Paris

According to him, Renault will be obliged to export 30% of components and vehicles produced on the territory of Iran. The new joint venture will create about 3,000 jobs.

Sales of Renault in Iran jumped in the first half by 100.3% to 68,4 thousand cars and the share of the market increased to 9.8%.

The Iranian company Khodro

Recall that after the lifting of international sanctions in 2016, the first Western automaker, returned to Iran was PSA. And recently on returning to this country was announced and the German concern Volkswagen Group.

Currently, Iran produces about 1 350 000 cars a year, the authorities expect that by 2025, the circulation will reach 3 million.

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