TEHRAN, Iran, September 5. Iranian automaker, SAIPA, would be the exclusive supplier of Renault products in the domestic market if the French car manufacturer decides to return, the CEO of SAIPA, Mohammad Ali Teymouri told Trend.
Renault is likely to return to Iran any time after sanctions are lifted, he said adding that every joint manufactured product by the two car makers must be supplied via SAIPA.
Under the agreement, Renault owns 51 percent of the joint venture, Renault Pars, While the Saipa Group owns 49 percent of the joint venture, he noted.
Referring to the possible privatization of Renault Pars company, Teymouri stressed that the Shares of Renault Pars company are not for sale.
He underlined that a 50/50 joint venture lays the foundations for a strategic partnership between Citroen and SAIPA.
SAIPA officially unveiled the new Citroen model of M44 which will be produced in the framework of the SAIPA-Citroen joint company located in Kashan.
Renault Pars is an Iranian joint venture established in 2004 and owned by Renault and Iran's Industrial Development Renovation Organization. The company manages the assembly of CKD Renault cars by local manufacturers Iran Khodro and SAIPA's Pars Khodro.
According to reports, Iran’s second-largest car producer SAIPA Corp has agreed to purchase Lada engine blocks from Russia’s largest carmaker AvtoVaz to restart production of a Renault model.
As part of the announced deal, the SAIPA-produced Renault Logan, a rebadged car known as the L90 Tondar, will be made with a Lada Largus engine. The Lada Largus is also essentially rebadged, sold as a version of the Renault-developed first-generation Dacia Logan MCV. joint venture