Posted on 06/16/2018 3:26:52 AM PDT by Olog-hai
French carmaker Renault will maintain its presence in Iran while taking measures to avoid the risk of penalties for breaching renewed US sanctions, CEO Carlos Ghosn said Friday.
“We will not abandon it, even if we have to downsize very strongly,” he said at the annual shareholders’ meeting in Paris. “When the market reopens, the fact of having stayed will certainly give us an advantage,” he predicted. […]
Renault’s rival PSA, which produces the Peugeot and Citroën brands, has also announced it will quit Iran to abide by the US sanctions.
But Ghosn signaled that Renault, which counted 160,000 cars sold in Iran last year out of its total 3.76 million, would try to stay in the country.
“We have a future in Iran,” he insisted. …
(Excerpt) Read more at france24.com ...
Renault is in partnership with Nissan and Mitsubishi. Nissan focuses on the American market and Renault is more europe, ME and Asia based.
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