Renault creates new joint-venture in Iran
Confident that the Iranian market holds a lucrative potential, Renault Group has signed a new local joint-venture agreement, involving Industrial Development & Renovation Organization of Iran (IDRO) and Parto Negin Naseh, an importer of Renault products in Iran.
The objective of the new company is to develop a manufacturing plant with an initial capacity of 150,000 vehicles per year. Renault’s current plant in Iran produces up to 200,000 units per year. At the same time, the new venture will create an engineering and purchasing centre to support the development of local suppliers.
“In a rapidly expanding Iranian market, it was vital to implement plants, engineering and purchasing centre. This joint venture will enable an acceleration of our growth in this country", declared Thierry Bolloré(pictured left), Member of Groupe Renault Executive Committee and Chief Competitive Officer. In H1, Groupe Renault sales in the country more than doubled year on year: it sold 68,365 vehicles, good for a 9.7 percent market share.
Picture copyright: Renault, 2017 | 09/08/2017 | Dieter Quartier