Bosch in Iran

FRANKFURT: German auto parts supplier Robert Bosch is opening an office in Tehran and plans to hire 50 staff by the end of this year because it sees growing potential for Iran’s car market following the lifting of international sanctions. A number of foreign carmakers, including Renault, Daimler, Peugeot Citroen and Suzuki Motor Corp have announced plans to re-enter Iran or step up production there since the United States and Europe partially lifted sanctions in January, under a deal with Tehran to limit its nuclear programme.