President Rouhani says Iran must privatise its auto industry. The state current controls about half of the sector. “The large but outdated car sector is one of the most attractive industries to foreign investors, who have flocked to Tehran since international sanctions were lifted in January following Iran's nuclear deal with world powers. France's PSA Peugeot Citroen signed a joint venture agreement with Iran's largest carmaker Iran Khodro in January. The two companies had an existing relationship that was suspended in 2012 due to sanctions".