French automobile manufacturer Renault has collaborated with vehicle manufacturer Iran Khodro (IKCO) to start the production of its vehicles in Iran.
Under the partnership, IKCO is expected to manufacture Renault's Clio 4 and Clio 3 model vehicles in the country.
The move follows the imposition of a new round of sanctions against anyone involved in Iran's auto industry and any one caught using Iran's currency, by the US on 01 July 2012.
IKCO Strategy and Planning deputy CEO Hamidreza Taghavi Nejad was quoted by IRNA as saying that Renault is company's strategic partner and has made substantial investments in Iran.
"Iran is negotiating with leader Asian vehicle manufacturer companies including Korea, China, Japan and India for neutralizing international sanctions," Nejad added.
In 2013, the Iranian vehicle manufacturer in collaboration with Renault had started production of its automatic Tondar 90 vehicle in the country.
