PSA wins second Iran production deal for Citroen brand
PSA Group unveiled a second Iranian manufacturing deal on Thursday as the French carmaker seeks to reclaim the leading position it once enjoyed in the Middle East's biggest auto market, until U.S.-led sanctions forced its withdrawal. The Paris-based carmaker struck a framework deal with Iranian counterpart SAIPA to invest 300 million euros ($330 million) in the development and production of three Citroen models through a new joint venture. PSA, which pulled out in 2011 under U.S. pressure, now faces stiffer competition from Chinese rivals ...
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