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March 19, 2003
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This Week:

• 2004 Cadillac XLR - Set To Become An Icon For Cadillac's New Era

• Land Rover Shows Broadest Line Ever At Atlanta Auto Show

• DaimlerChrysler acquires a 43 percent holding in Mitsubishi Fuso Truck and Bus Corporation (MFTBC)

• Nissan announces management changes to support the successful implementation of NISSAN 180

• Renault and Idro envisage manufacturing a common platform and vehicle together in Iran

• Planned BMW Group production in China approved by State Council

• Volkswagen presents second best results in its history

• Mercedes-Benz C-Class Production Passes the Million Mark Less Than Three Years after Manufacturing Launch

• BMW Group improves profit before tax to euro 3,297 million

• New President of Honda Motor Europe North

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Renault and Idro envisage manufacturing a common platform and vehicle together in Iran
 

Louis Schweitzer, Chairman and CEO of Renault, and Mr. R. Veyseh, Chairman and CEO of Idro (Industrial development and renovation organisation of Iran) signed together on Sunday March 16, 2003 in Iran, a letter of intent opening a period of negotiation on the creation of a Joint Venture company between Renault and Idro. The project envisages manufacturing the platform and manufacturing and selling the X90 car, currently being developed by Renault. Iran benefits from an important automobile industry and supplier network. The Iranian market which has steadily increased over the last three years, reached 450,000 cars in fiscal year 2002 - 2003.

(March 17, 2003)