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TEHRAN, Oct. 5 (Xinhua) -- A French car production official said here Wednesday that Iran will become Peugeot's top supplier in the Middle East and North Africa, Tehran Times daily reported.
Peugeot's manufacturing plan for its market of Middle East and North Africa is one million cars in 2025, 75 percent of which would be produced in the region, the chairman of the managing board of PSA Peugeot Citroën, Carlos Tavares, said during his visit to Iran Khodro Company (IKCO).
In the relevant remarks, executive vice president of Middle East and Africa of PSA Peugeot Citroën, Jean Christopher Quemard, told Iran's state TV earlier that his company would try to make Iran its manufacturing hub in the Middle East and North Africa in future.
"After two years of negotiations, we have reached satisfactory conclusions with IKCO, and all the expectations of the Iranian Ministry of Industry have been fully met," Quemard was quoted as saying by Tehran Times.
On Friday, France's Renault signed an agreement with Iran to establish production line of cars and after-sales service centers in the Islamic republic.
The first vehicles to be produced in Iran will be under the brands of the Symbol and the Duster, beginning in 2018.
The joint venture will include an engineering and purchasing center which will support the local suppliers, as well as a plant with an initial production capacity of 150,000 vehicles a year, which will be added to Renault's current capacity of 200,000 vehicles in the Islamic republic, according to the report.
Under the agreement, the group will, for the very first time, develop its own distribution network with sales and after-sales services in line with Renault brand standards. Enditem
