IKCO Invites More Foreign Partners

IKCO Invites More  Foreign Partners
IKCO Invites More  Foreign Partners

Iran Khodro Industrial Group has invited international car manufacturers for cooperation in various fields in Iran after successfully negotiating with some European countries.

Kamran Sepehri, IKCO’s manager for international cooperation, said in addition to pursuing strategies for expanding the domestic market, Iran Khodro is seeking to diversify its products.

Sepehri noted that portfolio diversification is among the priorities of IKCO as part of a larger plan to expand cooperation with foreign partners, IKCO Press reports.

“Creating joint export networks with foreign companies is also among our main aims,” he said.

The manager said IKCO is interested in signing joint venture deals with foreign companies to cooperate in research and development projects, build platforms and develop hybrid technologies.

“To this end, IKCO is planning to allocate some of its sites to products emerging from the new cooperation,” he said.

“Through the agreements, we are seeking to expand our local market, increase our exports and promote the quality of our vehicles.”

Iran Khodro Company, as the biggest domestic carmaker, aims to produce 3 million vehicles by 2025, one-third of which would be exported.

The manager added that to realize the aim, IKCO has to forge new ties with global companies.

Citing Peugeot and Suzuki as the main foreign partners of Iran Khodro, Sepheri said Iran Khodro Diesel is cooperating with Mercedes-Benz.

Iran Khodro Diesel, the group’s industrial subsidiary, recently announced it had signed a deal with Daimler to produce industrial machinery like heavy-goods vehicles.

Mohammad Hazrati, Iran Khodro Diesel’s export manager, at the time told Azerbaijan’s Trend News Agency that Daimler is Iran’s traditional partner, adding that Iran Khodro Diesel had started negotiations with the German company and “cooperation is expected after sanctions are removed”.

Earlier, Hashem Yekezare, CEO of Iran Khodro Industrial Group, claimed that the German company would purchase 30% of Iranian Diesel Engine Manufacturing’s shares to produce vehicles in the city of Tabriz.

“Mercedes-Benz would sign a 10-year agreement to produce trucks and buses in Iran,” he said.

Hazrati noted that IDEM and Daimler AG have been partners since 1969, but this relationship was interrupted when the German company left Iran when sanctions were imposed on the country by the United States and European Union.

Last year, Iran Khodro Company produced more than 600,000 vehicles and its target for this year stands at 660,000 cars.