Economic news

Renault signs new joint venture deal with Iran

French manufacturer Groupe Renault and Iran’s Industrial Development & Renovation Organization agreed to create a joint venture in order to produce 150,000 cars a year.

At the first phase, the investments of the French company will total 660 million euros. The agreement with Renault is the largest in the history of the Iranian automotive industry.

Renault will have a 60% stake in the joint venture, while the IDRO will own 20%.

Renault will export 30% of components and cars produced in Iran. The car deal will create about 3,000 new jobs in Iran.


To leave a comment you must or Join us


More news


Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree