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Business

Video: Renault eyes expansion in Iran

Video by FRANCE 24

Text by FRANCE 24

Latest update : 2015-08-03

French carmaker Renault tells FRANCE 24 about its plans to quadruple production in Iran, as the roll-back of Western sanctions heralds a new era of opportunities for foreign companies.

Renault was a major player in Iran, with around 10 percent of the market, before sanctions curtailed its activities in 2011.

But despite the tough measures, the French firm maintained a presence in the Islamic Republic through its local partners.

“The production lines didn't stop – but there was very limited activity,” the CEO of Renault’s Iran division, Son Peyman Kargar, told FRANCE 24. “The factories were working at around 15- 20 percent capacity. And that is just not tenable when you have fixed costs.”

Now that many sanctions are being lifted, the company hopes to triple or quadruple its output in the coming years.

Click on the video player above to view the full report.

Date created : 2015-08-03

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