French carmakers, PSA Group and Renault, through talks with their Iranian counterparts and local and foreign authorities, are deliberating over ways to remain in Iran’s market in spite of looming US sanctions.
Ongoing negotiations held between Iranian officials and Renault and PSA Group on how the two Paris-based companies can proceed with their financial pursuits in Iran will conclude in the coming days, according to Deputy Industries Minister Mansour Moazemi.
US President Donald Trump reneged on the 2015 Iran nuclear deal back in May, pressuring international firms to ditch operations in the country.
June 30, 2018 17:11
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Renault, PSA in Marathon Talks to Maintain Iran Operations
The French carmakers PSA Group and Renault are doing in-depth cost-benefit analyses to see how much of a hit they will take if they remain in Iran despite US sanctions. The two automakers have asked Iranian authorities for a window of time to determine th
Local authorities have tried to reassure the public that Iran’s auto industry was long functional before joint ventures with foreign partners were formed, and although the US pullout of the Iran nuclear deal and imposition of sanctions can impact the part
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