Renault SA signs a joint venture agreement with Iranian auto makers Iran Khodro and Saipa, as well as Iranian industrial group IDRO (Industrial Development and Renovation Organization), to begin production of vehicles off the X90 platform. The X90 is the basis for the €5,000 ($6,100) small car that will be produced by Renault’s Romanian subsidiary, Automobile Dacia SA. The joint venture, Renault Pars, will begin production of 300,000 vehicles annually in 2006. The agreement, ...
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