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
Iran joins CFT amid hopes for banking relief and security concerns
Iran's Expediency Council approved the country's conditional accession to the Convention for the Suppression of the Financing of Terrorism (CFT), raising hopes for economic opening, Hamshahri Online ... more
Iran's central bank authorised to settle IRR762 trillion IMF debt
Iran's Central Bank has been authorised to settle IRR762.305 trillion ($708mn) in debt arising from the Islamic Republic's commitments to the International Monetary Fund, First Vice President ... more
Russia ready to cooperate with Iran on nuclear issues, says Peskov
Russia will continue to cooperate with Iran including in the field of “peaceful nuclear energy”, Kremlin spokesman Dmitry Peskov said on October 20, Vedomosti newspaper reported. ... ... more