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TEHRAN, Feb. 5 (Xinhua) -- Iran Khodro and France's Peugeot car manufacturing companies are planning to set up a joint production line to produce cars in Iran's Semnan province in central-north of the country, Semi-official Fars news agency reported on Sunday.
"As per a contract signed between Iran Khodro and Peugeot, the joint production line will be launched in late February," Iranian Deputy Industry Minister Mohsen Salehinia announced on Sunday.
The report did not expand on the type of the car and technical information about it.
Salehinia also said that cooperation agreements between Iran's Saipa auto-maker and some famous international car manufacturers for joint ventures will be signed in next Iranian calendar year, starting on March 21, 2018.
In September last year, France's Renault signed an agreement with Iran to establish production line of cars and after-sales service centers in the Islamic republic.
Through the agreement, the Iranian car-making companies and Renault will establish joint ventures to produce cars and provide after-sales service in Iran.
The first vehicles to be produced in Iran would be under the brands of the Symbol and the Duster, beginning in 2018, according to the local reports.
The joint venture will, on the one hand, 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.
