Renault and Peugeot No Longer Have Place in Iran
Renault and Peugeot No Longer Have Place in Iran
TEHRAN – Minister of Industry, Mine and Trade says French auto-making giants Peugeot and Renault will have no longer place in Iran’s industry as the country is seeking to find new foreign partners in auto industry.

In in an interview with ILNA, Reza Rahmani said that the ministry is to privatize two national auto-making giants IRAN KHODRO and SAIPA but it will happen after both companies are downsized.


He added that in order not to repeat the past mistakes in privatizations, the government is working to downsize both companies and then to hand over it to the private sector.

He reiterated that the government is not interested in running businesses and it backs privatization.

Rahmani also criticized French giant auto-makers Peugeot and Renault for breaching their contracts after the U.S. sanctions, adding that the country is now seeking to find new foreign partners. He reiterated that both French companies will have no room in Iran’s auto industry any longer in case sanctions are lifted.

He went on to say that soon domestic car-makers will present their export-quality products to the market, adding that they have an eye on exports.

Rahmani stipulated that Iran will definitely sue both French companies and will go for getting damages for breaching the contracts.