TEHRAN, Feb. 29 (MNA) – Deputy industry minister said the contract framework between France’s Renault and Iran’s Saipa will soon become finalized.


Iran Deputy Minister of Industry, Mine and Trade Mohsen Salehinia told the reporters on Sunday “Saipa Group has launched negotiations on selling shares of Pars Khodro to France’s Renault car manufacturer and the talks will yield results in three months while the framework of the deal will become finalized on Monday.”

“Cooperation between Iran Italy’s Fiat Automobiles and Iran Khodro Industrial Group (IKCO) has not concluded yet while the negotiations between the two car manufactures are still underway,” he underlined.

Salehinia further maintained that “Kia Motors, Hyundai Motor Company and Volkswagen have also voiced readiness to collaborate with Iran and Sweden’s Scania AB has inked an agreement with an Iranian company.”

Iran’s deputy industry minister went on to add that “due to the presence of various automobile manufacturers in the coming Iranian calendar year, Chinese automakers will have to leave the Iranian market unless they take serious measures in development of Iran’s domestic production.”

By Mehr News Agency