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Iran's Saipa finalizing Renault deal

Tehran, May 8, IRNA-Europe's top selling car Renault Megane will hit the Iranian market later this year, the English-language paper `Iran Daily' wrote on Sunday.

The daily quoted Managing Director of Iran's Auto Manufacturing Group Saipa Ahmad Qal'ebani as saying that the company is in talks with the manufacturers on the final terms of the agreement.

He said the four-door sedan is the same size as Xantia and will be priced at below 200 million rials.

The first batch, estimated at 20,000 units, will be manufactured before March.

After L-90, Megane is the second brand produced by Saipa.

Iran Khodro auto manufacturing group and the Renault Company have formed a new car manufacturing company to produce light passenger vehicles in Iran. The joint venture is called Renault-Pars.

Under the terms of the agreement, French company Renault-Nissan Alliance will hold 51 percent of the company's shares while Iran Khodro will own the rest.

Renault-Pars, due to operate under Renault license, will start producing inexpensive passenger cars brand named `Logan' in 2006.

Logans are Type B of the L-90 series of Renault automobiles which operate on 1.6-liter engines each with 16 valves and 107 horsepower.

In the initial stage, the company will produce 150,000 units annually with a capacity of 300 million euros.

It is expected to gradually increase production up to 500,000 units in subsequent years.

... Payvand News - 5/8/05 ... --

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