French carmaker Peugeot returns to Iran with 400 mn euro deal: statement

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Paris (AFP)

French carmaker Peugeot will return to Iran in a partnership deal with a local manufacturer worth 400 million euros ($436 million), according to an agreement signed Thursday during President Hassan Rouhani's visit to France.

The deal will see Peugeot work with Iranian manufacturer Khodro, with the first vehicles expected to roll off the production line in 2017.