Iran: Biggest car manufacturer Khodro bluntly drops Peugeot as partner

The CEO of the Khodro Industrial Group (IKCO) Hashem Yeke Zare, Iran's leading car manufacturer, said in a presser Tuesday from Tehran that the French carmaker Peugeot should not expect to be their trade partner again. Zare said, "In light of the recent nuclear deal, many companies have shown interest in doing business with Iran. Iran Khodro has begun trade negotiations with several car makers. The company will only finalise joint ventures that serve our national interests. Iran Khodro's new partner will have to be independent, committed and with a strong global market share. French car maker Peugeot should recognise it cannot meet these requirements and hence should not expect to be our trade partner again." Iran Khodro is the largest car manufacturer not only in West Asia, but also Central Asia and North Africa. Their current production capacity is 600,000 vehicles a year.