Local Tech Firms Fill Automotive Void Created by Foreign Partners

Following the reimposition of US sanctions in 2018, almost all foreign automotive partners pulled out of Iran. However, local technology companies gradually stepped in to fill the void.
Most recently, a knowledge-based company produced several high-tech auto parts that meet global standards, which has been hailed by industry insiders as a step toward localization of auto parts.
According to the Vice Presidential Office for Science and Technology, Iran Spare Parts Company, a major manufacturer of auto components, recently announced it has produced crankshaft pulley, rubber bush, plastic bush, engine handle, hydro mount and balance shaft using state-of-the-art technologies, the office’s website Isti.ir reported.
The components used in the production of several car models are in high demand.
Reza Aryana, the CEO of ISPC, said the parts have a coating that makes them resistant to rust and corrosion.