Iran signs its biggest-ever car deal with France’s Renault
August 8th, 2017
Iran’s official news agency says two Iranian companies have signed the country’s biggest-ever car deal with French multinational automobile manufacturer Group Renault to produce 150,000 cars, beginning in 2018. The Euro €660 million or $778 million deal follows the lifting of international sanctions after Iran’s 2015 nuclear agreement with world powers. It’s expected to create about 3,000 jobs for the two companies, Iran’s IDRO and the privately owned Negin Group. Renault has a 60% partnership in the deal.