France’s Citroen has disclosed that the C3 hatchback is the first car it plans to produce in Iran, Asbe Bokhar reported on November 25.
PSA Group, which owns Citroen, has invested some €400mn in a joint venture called SAIPA-Citroen since mid-2016. The C3 will be the first of a series of Citroen vehicles that will go into production in Iran.
SAIPA director Fariborz Shahbaz said SAIPA-Citroen intends to produce 200,000 C3s per year, He added: “The production lines of the C3 are currently being installed and they will have a launch before next autumn.”
France’s Yann Martin, CEO of the SAIPA-Citroen JV, said that the production of the car should not be affected by US sanctions still in place against Tehran. He added: “We are not a political entity. We just want to do business in Iran.”
Martin said that 70% of the parts of the produced C3 would be locally sourced. Earlier in the week, Iranian media reported that SAIPA-Citroen had imported its first shipment of C3 parts.
Related Articles
Central Bank of Iran provides over $25.8bn for imports since start of Persian year
Iran's Central Bank has provided more than $25.868bn in foreign currency for importing essential goods, medicine, industrial products and services from the beginning of the current Persian calendar ... more
Iran’s Bank Mellat records 45% to 59% growth in revenue and deposits
Bank Mellat achieved record growth of 42% to 59% in key performance indicators during the first five months of 2025, setting new records in Iran's banking system, Banker reported on September 7. ... ... more
US sanctions Indian petchem traders over Iran deals
The US Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned six Indian companies for their involvement in trading petrochemicals produced in Iran, according to a report released by ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago