July 14, 2015 / 1:49 PM / 2 years ago

Peugeot expects to clinch new Iran venture after sanctions deal

PARIS, July 14 (Reuters) - PSA Peugeot Citroen is in advanced talks over an Iranian carmaking venture with historic partner Iran Khodro and expects rapid progress following the diplomatic breakthrough lifting sanctions against the country, the French company said.

The deal struck in Vienna between Iran and western powers "should clear the way for significant progress in our discussions", Peugeot Africa & Middle East chief Jean-Christophe Quemard said in an emailed statement on Tuesday.

Unlike a previous partnership under which Iran Khodro re-assembles older Peugeot models made in European plants, the new Iran venture would include full manufacturing of cars using the group's latest vehicle architectures and engines, Quemard said.

"This project will deliver a generational leap," he said. (Reporting by Laurence Frost; Editing by Mark Potter)

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