Iran Khodro, Peugeot sign new joint venture agreement
Peugeot has been the first to give its go-ahead to a joint venture with Iran following relaxation of sanctions.
Iranian car manufacturer Iran Khodro (IKCO) has signed a new joint venture (JV) agreement with French automaker Peugeot following extensive negotiations, reports Trend News Agency. "These negotiations will proceed within the defined frameworks, and, among these companies, Peugeot has been the first to give its go-ahead to a joint venture with Iran," said Hashem Yekkeh-Zare, CEO of IKCO. The executive did not reveal more details about the agreement; however, he added that the company is also in talks with a non-Asian automaker and hopes that some progress will be made in the next four to five months.
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