Renault and Iran cooperate for new cars production
Iranian vehicle manufacturer Iran Khodro (IKCO) will produce new cars in cooperation with Renault, Hamidreza Taghavi Nejad, the IKCO Deputy CEO in Strategy and Planning said, IRNA reported.
According to the report IKCO and Renault have agreed to product Clio 4 and Clio 3 in Iran.
"Renault is IKCO`s strategic partner and has made substantial investments in Iran," Taghavi Nejad said.
IKCO started mass production of its exclusive product "automatic Tondar 90" in cooperation with Renault last year, he added.
Iran is negotiating with leader Asian vehicle manufacturer companies including Korea, China, Japan and India for neutralizing international sanctions, he said.
Recall that on July 1 the U.S imposed a new round of sanctions against anyone involved in Iran's auto industry and anyone caught using Iran's currency, the rial, for "significant transactions."
Iranian officials say that Iran is one of the main markets for Renault products and the company will meet its obligations to manufacture new products and supply parts to its Iranian customers.
Iran's automobile production has decreased by 56 percent in May compared to the same period in 2012.
According to the statistics, about 69 automobile manufacturer units have been closed and 115,000 people lost their jobs in automobile sector during the past two years.