Economy, Auto
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SAIPA Negotiating With Nissan, Citroen

SAIPA Negotiating With Nissan, CitroenSAIPA Negotiating With Nissan, Citroen

SAIPA, Iran's second largest carmaker, aims to establish joint ventures with several foreign counterparts.

In an interview with Persian Khodro, Mehdi Jamali, SAIPA's CEO, said a contract will be signed between SAIPA and Citroen in the near future.

Briefing Majlis Commission of Industries about SAIPA's recent negotiations with foreign auto manufacturers, Jamali said, "All possible measures have been implemented to keep our contracts and partnerships with foreign counterparts in line with the Resistance Economy."

Jamali said foreign investments should include technology transfer, boost Iran's parts industry and help SAIPA increase exports.

According to a report by IRNA, Citroen plans to launch five new models in the Iranian market.

The French carmaker is in the final stage of agreeing to the production of five models by SAIPA-Kashan in Iran.

SAIPA-Kashan, a subsidiary of SAIPA, will sell 50% of its shares to Groupe PSA's Citroen brand, according to the CEO of the company.

Jamali said the deal will give the French group equal shares in the upgraded production site.

He also announced that negotiations with Nissan are underway.

Mentioning the history of Japanese car manufacturer's presence in Iran, Jamali said, "Nissan ended our prior collaboration all of a sudden, but we hope that these negotiations would lead to a more sustainable partnership."

Financialtribune.com