Iran Khodro and PSA Peugeot accomplished one-fifth of a 2016 deal by so far investing €100 million in a joint company in Iran'.
Each of the two companies has invested €50 million in the factory whose first product, Peugeot 2008 will be out by March, said Iran Khodro CEO Hashem Yekke Zare.
The two companies from Iran and France signed a contract on June 21, 2016 to launch a joint company in Iran to produce Peugeot cars.
Iran's share of the parts that will be used will initially be 40 percent and increase to 70 or 80 percent in two years, Yekke Zare' said in the signing ceremony at the time.
"We will start the production with Peugeot 2008 and then move on to models 301 and 208," he said.
