Economy, Auto

Renault, SAIPA to Sign New Deal Soon

Renault, SAIPA to Sign New Deal SoonRenault, SAIPA to Sign New Deal Soon

The contract framework between France’s Renault and Iran’s second largest carmaker SAIPA will soon be finalized, a deputy minister said. Iran's Deputy Minister of Industries, Mining and Trade Mohsen Salehinia also told reporters on Sunday that SAIPA has launched talks on selling shares of Pars Khodro to France’s Renault and the talks will yield results in three months, while the framework of the deal will be finalized on Monday. “Cooperation between Italy’s Fiat Automobiles and Iran Khodro Industrial Group has not concluded yet while negotiations between the two car manufactures are still underway,” he said. Salehinia noted that Kia Motors, Hyundai and Volkswagen have also voiced readiness to collaborate with Iran while Sweden’s Scania has signed an agreement with an Iranian company.