Iran’s major automaker Iran Khodro Company (IKCO) has slashed capital flight worth €13 million through the indigenization of auto parts production since the beginning of the current Iranian year (March 2021).
According to Farshad Moqimi, the company’s CEO, the achievement was made possible by technological breakthroughs in the auto industry, YJC reported.
“IKCO has implemented over 150 auto parts localization and vehicle design projects in the past two years with the help of Iranian auto parts manufacturer SAPCO,” he added.
Moqimi said this has resulted in the production and utilization of a local car platform, a large number of parts, six-speed manual transmission (gearbox) and three-cylinder piston engines.
June 26, 2021 17:31
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Auto Parts Localization Curbs Capital Flight Worth €13m
In the last three months, the indigenization of auto parts production was made possible by technological breakthroughs in the industry
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