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EghtesadOnline: President Hassan Rouhani on Tuesday officially launched the production line of Peugeot 2008 and the locally designed IKCO Dena+. Peugeot 2008 is the first car to be produced through the joint venture between Iran Khodro and Peugeot — better known as IKAP in 2016.

The Dena+ model is an upgraded version of Dena which the company claims offers more safety, having two more airbags.

IKCO chief Hashem Yekezare and Iran’s Minister of Industries, Mining and Trade Mohammad, Reza Nematzadeh, were present at the Tehran event, news reports said. On April 27 CEO of IKCO announced the price for Peugeot 2008. Yekezare said that the car will be sold for 900 million to 1 billion rials ($24,000 to $26,600) depending on the options the consumer will choose.

Earlier unconfirmed reports put the vehicle’s price at around 750 million rials ($20,000). The production of Peugeot’s 2008 small crossover was started in March marking the first new vehicle of a renewed partnership with the French carmaker, according to Financial Tribune.

The line is set to produce more than 30,000 units in the year that began on March 21. The car’s body is produced locally by one of the subsidiaries of IKCO, called TAM which makes the vehicle meet the bare minimum 30% localization need.

Hassan Rouhani IKAP Iran Auto Iran auto industry Peugeot 2008 Dena+