French carmaker PSA Group has to procure 30% of auto parts at its Algeria site from Iran under its agreement with leading Iranian automaker Iran Khodro.

The first Peugeot 207 and Dena Plus sedans roll off the production line near Tehran during a ceremony attended by Parliament Speaker Ali Larijani.

The maker of Peugeots and Citroens announced a joint-venture worth 400 million euro ($450 million) with its former local partner Iran Khodro (IKCO) in Tehran in May.

French auto giant Peugeot has started the mass production of its latest flagship crossover in Iran – a landmark move that could cement its presence in the Middle East’s biggest vehicle market.

France’s PSA Peugeot Citroen is on its way to becoming Europe’s second largest automaker after Germany’s Volkswagen with the purchase of Opel-Vauxhall.

France's auto giant PSA Group says it is pushing ahead with a plan to invest in Iran’s auto industry despite the US administration's increased anti-Iran rhetoric.

French automaker PSA Peugeot Citroen is preparing to slash over 2,000 jobs at its home market next year.

PSA Chairman Carlos Tavares says his company has serious plans to make Iran “central” production hub in the Middle East.

Iran’s major car manufacturer Iran Khodro (IKCO) and the giant French automotive Peugeot Citroen have officially launched a joint venture to turn Iran into a regional hub for the production of Peugeot vehicles and components.

Peugeot has agreed to provide Iran with a package of debts waivers, bonuses and discounts in what is seen as a move to compensate for the company's abrupt departure from Iran in 2012.