China set to fill vacuum left by French carmakers exiting Iran
The exit of French automakers from Iran is leaving a vacuum that appears set to be filled by Chinese auto manufacturers.
As Iran’s auto industry is grappling with a multifaceted crisis, there are signs that China’s nascent carmakers may step in to become part of the solution.
The US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) and the impending reimposition of sanctions have not only caused a currency crisis in Iran but also led French automakers such as Peugeot and Renault to leave the Iranian market, creating a shortage of parts.
