Iran Khodro Company (IKCO), the country's major automaker, has launched a new auto part production line that will purportedly save €17 million in imports each year.
Farshad Moqimi, the CEO of IKCO, inaugurated the production line in the premises of a subsidiary, Iran Khodro Machine Tools Industries Company (IKMT), in west Alborz Province on Thursday, Ikcopress.ir reported.
“The production line is specialized in manufacturing torsion beam suspension for IKCO's Tara model,” he said, adding that this is in line with indigenization efforts launched by the Ministry of Industries, Mines and Trade a few years ago.
"The key component was designed and manufactured with the assistance of seven industrial groups and the support of IKMT," he said.
October 18, 2021 19:55
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Auto Part Localization to Curtail Capital Flight Worth €17 Million
With the indigenization of a new automotive part, IKCO says it can annually save €17 million in imports
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