Renault signs deal to make 300,000 cars per year in Iran
PARIS/TEHRAN (UPI) -- French automaker Renault announced a joint venture with Iranian authorities on Monday, despite U.S. efforts to isolate Iran economically. The $779 million deal between Renault, Iran's state-run Industrial Development and Renovation Organization and privately-held Parto Negin Naseh, calls for up to 300,000 cars per year to be built at a factory in Saveh beginning in about 18 months. Monday's agreement calls for 30 percent of Renaults manufactured in Iran to be exported. The first phase of the deal calls for 150,000 vehicles. […]
