PSA’s Iranian plant on track

France’s PSA Group is pushing ahead with an Iranian plant investment and production ramp-up in the face of a hardened US stance against Tehran under President Donald Trump that could play to the carmaker’s advantage, a senior executive said. The group’s Peugeot brand is about to begin production with local partner Iran Khodro, while PSA is also preparing to invest more than €100 million ($106 million) in a new Citroen plant with partner SAIPA, PSA Middle East chief JeanChristophe Quemard told a Press call on Monday.