Economy, Auto
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SAIPA-Citroen JV Announces Iran Presale

SAIPA and its French partner issued a press release on Sunday announcing the upcoming presale of their first joint venture product Citroen C3 in Iran, which will be launched on May 16
SAIPA-Citroen JV Announces Iran PresaleSAIPA-Citroen JV Announces Iran Presale
SAIPA and Citroen signed a 50-50 joint venture agreement in late 2016, according to which the Paris-based carmaker has undertaken to invest more than €300 million in Iran during the next five years

Iranian carmaker SAIPA and its French partner PSA’s Citroen brand announced an upcoming presale of the Citroen C3 in Iran few days after the hawkish President Donald Trump pulled the United States out of the historic 2015 nuclear deal, indicating that the two carmakers have seemingly not been shaken by the underhand move.   
According to a Sunday joint press release, the presale will start on May 16 and the vehicles will be delivered in August.
SAIPA and Citroen signed a 50-50 joint venture in late 2016 according to which the Paris-based carmaker has undertaken to invest more than €300 million ($352 million) in Iran during the next five years. In addition to C3, another model of Citroen, namely, C4 will also be produced in Iran.
 

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