Iranian auto part makers seeing bright future ahead

7 December 2017 10:35 (UTC+04:00)

By  Trend

As major Iranian car producers are starting joint ventures with European and Asian partners, part makers in the country are hopeful that they will see considerable growth in their market.

"These are goods steps that are being taken, the international cooperation that followed the JCPOA are becoming operational," Mohammad Reza Najafi Manesh, the chairman of the Auto Part Makers Association of Iran, told Trend December 4.

"These will not only bring new car models to the country, but will also help improve the domestic technology," he noted.

"Also, the cooperation projects require that a minimum of 30 percent of the JV’s products be exported, with a minimum of 40 percent of their parts being built by Iranians."

"These are all blessings, especially the part that foreigners bring their finance and also the part that relations to the creation of R&D units."

An official with IKCA the Iran Khodro-Peugeot joint venture in Iran recently told Trend that the business has started to deliver its products to customers. The JV has come as a pioneer in the post-JCPOA Iran, when sanctions against Iran were removed.

Also recently Saipa officially unveiled Citroen C3 in a ceremony held in Tehran. The vehicle will be the first model to be produced in the framework of the Saipa-Citroen joint venture.

This summer an Iranian company also signed a deal with Renault for joint production.

There are talks that Mercedes, Hyundai, and Volkswagen are also on their way to Iran.


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