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Iran’s number one automaker, Iran Khodro Company (IKCO) is set to begin the import of Peugeot’s popular passenger car within the next two months.
The French automaker reached an agreement with IKCO to sell Peugeot 407 complete build-up units (CBU), Ahmad Ne’mat, secretary of Iran’s Automaker Association said.
The announcement came despite a Financial Times report which claimed the French and British embassies have dramatically scaled back their trade sections amid a slowdown in business ties with Iran caused by the illegal US-led sanctions.
However, IKCO officials say the new Peugeot sedan will be launched in Iran at the end of summer.
“Iran Khodro will start assembly of Peugeot 407 at home if the automobiles sell well in the Iranian market,“ Ne’mat explained.
French cars have a significant presence in Iran’s streets. IKCO assembles and manufactures French automobiles such as the Peugeot 405 and 206 under the Peugeot Company license.