IKAP (Iran Khodro Automobiles Peugeot) is a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

between Iran Khodro and

Stellantis Stellantis N.V. is a multinational automaker formed in 2021 through the Mergers and acquisitions, merger of the Italian–American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group, PSA (Peugeot S.A.) Group. The company's hea ...

, based in

Tehran Tehran (; , ''Tehrân'') is the capital and largest city of Iran. It is the capital of Tehran province, and the administrative center for Tehran County and its Central District (Tehran County), Central District. With a population of around 9. ...

; it was established in 2016. It produces some

Peugeot Peugeot (, , ) is a French automobile brand owned by Stellantis. The family business that preceded the current Peugeot companies was established in 1810, making it the oldest car company in the world. On 20 November 1858, Émile Peugeot applie ...

models and imports other models in CBU for Iran market. The company was created to manufacture Peugeot products in Iran and export them to the

Middle East The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage by the United Kingdom and western Eur ...

and to serve as Peugeot's production hub in West Asia. Initial products were Peugeot 2008, Peugeot 208, Peugeot 301 and Peugeot 508.

References

Car manufacturers of Iran Iran Khodro Stellantis Joint ventures {{motorvehicle-company-stub