Canadian front company, is to hold the remaining 21% of the venture. The factory will be in the Iranian city of Babol. Anhui Ankai Automobile (also of China) signed a deal in January 2008 with ARG-Diesel Iran to supply it with 600 buses, valued at €51.35m. The deal is to be complete by October 2008. Iran annually needs some 4,000 buses for its domestic transportation. Since the 1970s, Iran has been producing a number of different buses, such as German Mercedes and MAN as well as Swedish Scania and Volvo that it has exported throughout Asia. Daewoo Bus Corp. and an Iranian automaker Ardebil Sabalan Khodrow-Maywan have teamed up to build buses in Iran. The plant, which is slated to be completed by March 2010, would have a production capacity of 2,000 buses per year and would produce some 800 city and intercity buses in the 18 months after its inauguration. Based on the agreement, the engines and gearboxes would be manufactured in South Korea. Production would increasingly shift to Iran, where about 60 percent of the parts would be made. Since 2016 and the lifting of the international sanctions, nearly 40 foreign automakers, including Peugeot, Mercedes, and Toyota, are considering using Iran as a hub for their ME and regional exports. Imports Car imports have risen, from $184 million in 2002 to $1.5 billion in 2007. In 2006, the government lowered the automotive import tariff levels to 90 percent for light weight vehicles and since then a huge influx of imported vehicles has been witnessed in the country. The tariff level for import of heavy vehicles is even lower at 20 percent, due to low levels of local production and high demand. As a result, various overseas brands are being presently imported into Iran. Following the lifting of international sanctions, French car manufacturer Renault imported over 93,000 cars (fully built and CKD units) to Iran in 2016. PSA covers 30% of the Iranian market, while Renault's share is 5%. Fuel rationing , Iran has 3,200 gas stations for 1.5 million automobiles. Demand is supported by the fixing of fuel prices well below market levels. There are two pricing schemes for petrol, one subsidized the other not. Each month, qualified vehicle owners are allocated a specific number of subsidized liters of petrol (taxi's have a significantly higher allocation). The cost of regular unsubsidized petrol in Iran is IR7,000/liter (approximately 37