PSA Group

Automotive
Euronext: UG
France
Citroen

"In other sectors, French carmaker PSA Peugeot Citroen reached a deal in 2016 to open a plant producing 200,000 vehicles annually in Iran. It said Wednesday that it is studying the implications of the U.S. move and hopes the European Union will have a united position on the Iranian sanctions." (May 9, 2018). 

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"French carmaker PSA Group has invited Iran Khodro (IKCO) to set up a production line for Peugeot cars in Algeria, the Islamic Republic News Agency (IRNA) reports. PSA executive vice-president for purchasing, Yannick Bézard, on Tuesday visited Tehran-based Iran Khodro which has signed production deals worth 700 million euros with PSA. Bézard said Iran Khodro can either provide Peugeot with auto parts it needs at its Algeria site or establish a production line in the North African country as a member of the French automaker." (January 31, 2018).

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"PSA on Wednes­day reported a rise in car unit sales for 2016 thanks to business in Iran which the carmaker is including again after the end to sanctions against Tehran. With the integration of sales from joint ventures and licence agreements in Iran, Peugeot booked a rise in deliveries of 5.6pc. On a comparable basis, without the integration of the Ira­nian contribution, the figure dropped by 2pc from 2015. The group’ s three brands Peugeot, Citroen and DS, sold just over three million cars last year, of which 233,000 were produced under licence in Iran. In 2015, the group sold 2.9 million units. PSA’ s post-sanctions return to Iran resulted in joint ventures with local companies Iran Khodro and Saipa, and a partnership with Arian Motor." (AFP, "Iran car sales keep PSA on growth track," 1/11/2017).

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"Citroen cars will roll off an assembly line in Iran starting from 2018, under a deal between French automaker PSA and Iran's SAIPA finalised on Thursday, PSA said. The joint venture, in which PSA and SAIPA will each have a 50 percent stake, will see cars produced at a plant in Kashan, some 200 kilometres (120 miles) south of the capital Tehran... The Kashan plant is used to produce Citroen cars but has not made one since the start of the decade. The two firms plan to invest "more than 300 million euros ($335 million) in manufacturing and R&D capacity over the next five years," PSA said in a statement. The move follows PSA's 400-million-euro deal in June with Khodro to build 200,000 Peugeot vehicles a year in Iran by 2018." (AFP, "Citroen maker seals Iran joint-venture deal," 10/6/2016).

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"Iran will play a “central” role in French carmaker PSA’s strategic plans for the Middle East, the head of the manufacturing group said Wednesday on his first visit to the country. “Iran is central to the implementation of the strategic growth plan of the PSA group,” Carlos Tavares said during a visit to its local partner, Iran Khodro. The trip cemented a 400 million-euro ($448 million) deal signed in June for the two companies to resume their old partnership, which was cut short by international sanctions in 2012... June’s 50-50 deal created IKAP (Iran Khodro Automobiles Peugeot) which plans to produce three vehicle types, starting in 2017 with the small urban 4x4 Peugeot 2008. The mid-size 301 and small five-door 208 will follow shortly after. PSA aims to reach 200,000 units by 2021, and it hopes to meet the Iranian government’s wish of exporting 30 percent of the production. “Iran is going to be the No. 1 sourcing base for this region,” Tavares said, reiterating PSA’s goal of selling a million units across the Middle East by 2025. “When we reach that number in 2025, 75 percent of this production will be produced in the region ... and of course Iran will be the No. 1 producer,” he added." (AFP, "Iran 'central' to French carmaker's regional plans," 10/6/2016).