Wednesday, May 25, 2005

Renault to build Megane in Iran - BBC

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The venture is 51% owned by Renault, despite a law passed this year banning foreign firms from majority ownership. The law, passed in September 2004, imposed a retroactive 20 March cut-off point. Renault signed its deal for Renault Pars, as the venture is known, four days earlier.
...
Iran, like many other countries, has had a history of borrowing car designs from abroad. For 40 years, its most popular car was the Paykan, a pollution-spewing copy of the 1960s British Hillman Hunter. The Paykan was finally discontinued by Iran Khodro earlier this month.

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Thanks to M. A. for the link.

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