TEHRAN- Iran Khodro Company (IKCO) is conferring joint manufacture of its products with six international automakers other than Chinese ones, the company’s Managing Director Hashem Yekke-Zare announced on Wednesday, IRNA reported.

“IKCO’s negotiations with the French giant automaker Peugeot has borne fruit and a cooperation agreement has been signed between the two sides,” Yekke-Zare said addressing a ceremony. 
The PSA Group and IKCO signed the final joint venture agreement in late June to produce latest-generation vehicles in Iran. This 50/50 joint venture was expected to invest up to €400 million over the next five years in manufacturing and R&D capacity.

HJ/MA